Moneymoneymoney
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Capital gains tax
Hi, trying to work out how much capital gains tax myself and my husbamd would pay if we sold our buy to let property. From what i understand we are eligible for private residence relief as we lived in the property initially. Sale price will be approx £300,000 Purchase price was £150,000 Improvements approx £17500 Selling costs approx £5000 Husband is higher tax bracket Myself basic Weve owned the house for ten years, lived in it for 5 years and rented it for five years, tenants still in it, so PRR would be half of profit, i think? How do i work out how much capital gains tax we would end up paying, trying to weigh up if its better to sell property as buy to let mortgage has gone from £200 a month to £650, not worth the headache anymore, many thanks for any help