Leannet77

I purchased a property 18 months ago on a Holiday Let mortgage. I live in a rental property. Basic tax payer and I don't own anything else. The property needed redecorating and modernising. However, it soon became apparent that the property was actually dangerous and would certainly not pass any checks for rental or holiday letting. A complete rewire was necessary. Secondly, the windows falling out of there frames when opened and being on the first floor they all needed replacing. In addition to this, a new kitchen and appliances were installed due to the need to rewire the kitchen so it was safe. We then divided the large living room with a stud wall to convert to a 2 bedroom. I have never let the property. If I sell I will make approximately £30k on purchase price (before any costs) but the costs of the work is in excess of £20k. I am so confused what I will end up paying in CGT if I sell now.