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  • RE: 9 Month rule on PRR

    Thank you. The property was bought and lived in by us as a main residence for 6 years, but turned into a "let to buy" property as we were unable to sell it in order to purchase a new home. 15 years later we sold it. This was our main home for 6 years before we rented it out. Does the PRR get added to this period (i.e. 6 years 9 months) or to the period we owned it (i.e. 15 years 9 months)? We never moved back into it before it was sold. Thanks for any help.
  • 9 Month rule on PRR

    Hi, I am trying to work out the CGT on the sale of a second home but am receiving conflicting advice. Some sites state the 9 months is added to ownership, others to the period of occupation. This makes a big difference as if added to the ownership period it decreases the percentage you are allowed to deduct. Can you please let me know do I add the 9 months to period of ownership OR period of occupation. Thank you
  • CGT QUERY - Outstanding Mortgage

    Having started the calculation on HMRC website, the following question is asked: How much did you sell the property for? If you owned the property with someone else, only enter your share of the sale value. This value is way higher than what I received as I had a mortgage to redeem on it, so the sale figure is vastly different to what I received from the sale but there is nowhere to put this figure?? I am entitled to PRR which brings the amount owing down, but am baffled as to what sum they require - is it the sale value or what I received AFTER mortgage is repaid? Thank you.
  • CGT on sale of rental property we did live in at 1 point

    Hello, and thank you for any help given in advance. We sold our BTL last week so am preparing the figures. Are we allowed to offset the following: Surveyors Fee required by building society for valuation prior to sale. We lived in the house for 9 years before renting it out - I assume it is 9 years PRR plus 9 months each? Solicitors and estate agents fees. EPC required prior to sale? As the house was empty and required redecorating/gardening/cleaning etc am I right to assume this comes off rental income in yearly Self Assessment figures? Whilst it was empty I was still paying council tax (100%), insurance and standing charges on utilities - again, I assume this is entered on SA? Thank you for your help.
  • Sale of rental property - Deduction from CGT or SA

    Hi, I have just sold my rental property and before I complete the CGT I would like a little help surrounding deductions. The property was lived in for 11 years so needed a total internal repaint, gardens tidied and check out clean done as none of this was done by vacating tenant. I also incurred 300 miles in mileage allowance as we had to visit the property to retrieve keys and ensure house was secure and isolate water, gas etc. We also lived in this house for 6 years before renting as we couldn't get a mortgage to move so this was a let to buy mortgage initially. I know solicitors and estate agents fees are allowable in CGT but what about the rest? Do I deduct the sums mentioned for the jobs above from the CGT calculation (including private residence relief) or do I put it on the SA (will make a loss this year due to the amount spent on property, can this be carried forward?) Thank you for any help.