FaisalNasir

Can you please clarify the loss calculation in a btl sale - essentially can the sale and purchase costs be included in the loss e.g. Property purchase price 100k Purchase cost 4k Property sale price 90k Sale cost 3k Is the loss 100-90-4-3 which is 16k or is the loss 100-90 which is 10k

Hi, I sold a property in Spain in May 23 - the property had a loss of approx 35k in sterling based on purchase/sale price at the prevailing exchange rate of each transaction. I have also sold a btl in October 23 with a profit so it is subject to cgt. Taking into account my loss on the Spanish property my net profit is reduced to 0 across both properties. Do I still need to pay cgt on the uk property within 60 days and then claim back on the tax return or am I exempt as no net profit in tax year 23/24. Thanks