david Kinnair

Could you tell me if I can offset a capital expenditure item, such as a new bathroom against Capital Gains tax return on the sale of property as well as utilising the same expenditure in the annual self assessment return for a rented property prior to its sale? Can you also tell me if the capital gains allowance is annual so therefore £3k per year of ownership? So eg, owned second property for 10 years, between 2 people would that be 30k or 60k allowance between the two

Hi Can expenditure for a capital improvement such as new bathroom be utilised in the capital gains return upon sale of property but also before sale can it also be used for self assessment while renting that property out prior to sale