James Minifie
Joined: 8/24/2024
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CGT - Lease Extension - Cost offset?
Hi Hoping you can help please? My sister and I inherited a flat in 2013 valued at £150,000. Inheritance tax was paid on this at the time. Last year, we paid £10,000 plus legal fees to extend the lease from 93 years to 213 years. We are planning to sell the flat for £265,000 in the near future. In terms of CGT, can we include the lease extension and legal costs to reduce the tax liability? Many thanks, James