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Posted Mon, 21 Oct 2024 11:05:08 GMT by Alan Liu
We have set up a Discretionary Trust and transfer a property into the trust. Can the Solicitor's fee be regarded as expenses when filling in the CGT return?
Posted Wed, 23 Oct 2024 14:29:58 GMT by HMRC Admin 33
Hi,
Yes, they can. Please see the link below
Tax when you sell property: Work out your gain
Thank you.
Posted Thu, 24 Oct 2024 07:15:44 GMT by Alan Liu
Thanks for your response. I just want to make sure by stating my question a bit clearer. When employing a solicitor to set up a trust with a property placed into the trust, it incurs a solicitor's fee for drafting the Trust Deeds, etc. When CGT is then filed for the disposal of the property into the trust, can this solicitor's fee be regarded as expenses.
Posted Mon, 28 Oct 2024 14:16:16 GMT by HMRC Admin 33
Hi,
Yes, you can deduct solicitor's fees. Please see the link below
CG15250 - Expenditure: incidental costs of acquisition and disposal - HMRC internal manual
Thank you.

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