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Posted Fri, 01 Dec 2023 22:05:37 GMT by
We inherited a house split into two flats. In order to achieve the best sale price for the flats we created a Leasehold arrangement with a central Management Company where the owner of each flat becomes a Director. We intend to offset the costs associated with the creation of this Leasehold arrangement against the Capital Gain from the sale, as the work increased the value of the property. Most of these Leasehold costs were incurred before the sale of the flats, however the cost of resigning as a Director could only be incurred after the sale had completed. Although this cost was paid after the sale, it was necessitated by setting up the Leasehold and therefore I intend to include it as an expense against the Capital Gain. Do you agree that this approach is reasonable? Thanks.
Posted Tue, 05 Dec 2023 14:54:02 GMT by HMRC Admin 19 Response
Hi,

We can only provide general information and guidance on this forum. For an answer to a detailed question of this nature, you would need to contact our Self Assesment team or seek professional advice.

Self Assessment: general enquiries

Thank you.

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