Offsetting CGT

I am selling what was our family home which we lived in for 5 years and tenanted for 12 months. This has been vacant for several months and naturally incurred various costs such as council tax, utilities etc. My first question; 1. Can any of those be classed as losses to offset against capital gains tax that will be due? 2. When we purchase our new home which will be liable for stamp duty, can this capital loss of paying the stamp duty be offset against the CGT against the property that has been sold?

Hi,

You can claim private residence relief for the period that the first property was your main residence plus a further 9 months over the number of months that you owned the property. 

For example. (5*12)+9 = 69 over 6/12 = 72.  69/72.  

Have a look at the helpsheet HS283 below for more advice.  

HS283 Private Residence Relief (2023)

Stamp duty paid on the second property, could only be set against capital gains arising on the disposal of that second property.  Have a look at the guidance on stamp duty and land tax at:

Stamp Duty Land Tax

Thank you.