burger22a Edgar

I have just come to the end of a long period of renting out my property, which is now on the market for sale. I rented out the property for 23 years and had a local Letting Agent managing the property. I visited the property for 1 final time to inspect, clean and prepare prior to putting on the market. I also visited the Letting Agent after the property was vacated (end of contract) to recover the keys and any relevant paperwork plus final actions following my and their inspections. Can I use this travel & associated costs against the property rental income in the FY period?

Thank you for your reply. I understand that as the rental period and income is now ceased no further costs (repairs or final maintenance work to make the property back to a good condition) can be offset against the rental income. Can I offset any final repairs, material & logistic costs against the CGT to make the property fit for sale?

In relation to the point above, would any final repairs, travel and material expenditure to "make the property" saleable when the rental is complete and awaiting sale be allowable against CGT then? Hi Ksiko, If there had been an intention to restore the property to let it out again we could consider these as allowable repairs/expenses against IFP. As you appear to have withdrawn the property from letting these outgoings/repairs will count as capital expenditure against capital gains arising from the ultimate sale of the property as they will enhance the asset and increase its sale price. Thank you.

I purchased a house in 1999 to live in with my Fiancé. The property was bought and registered to me originally. We got married in 2000, then moved out of the property in 2001 when I began renting it. In 2008 we re mortgaged the property and became 50/50 owners. The property is now being sold and the renting has finished. In order to calculate "our" shared CGT liability do we do this as a 50/50 assessment as of today, or have to work out the proportion of when I was sole owner up till 2008, then work out the individual share after then till now?