CGT on Flat sale
Client purchased a property in June 1986 for 41K and occupied it until June 1991.
During that time he had a number of lodgers.
In July 1991 he vacated the property and moved into rented accommodation where he remains.
From July 1991 - June 1992 the property was let.
From July 1992 - March 1994 the property was not let.
April 1994 to date the property has been let and has been substantially restructured consisting of three self contained flats.
If he disposes of the property ( ie all three flats)for 200K, for what period can he claim PPR?
Does the asset qualify as a business asset for taper relief?
If so, from when and at what rate?
What is his likely CGT liability?
- Purchase of shares and goodwill 120 3
- How will auto enrolment affect accountants? 1,459 40
- Directors Remunerations and Employees on CT600 68 1
- Anyone Heard of This Outfit? 229 1
- How can I tell what returns are outstanding on HMRC online? 227 3
- Practice management - that old chestnut....... 1,228 19
- Suppliers for Online Card Payments? 360 6
- Go Cardless 378 10
- Self assessment tax arrears 323 3
- Mehjoo 331 2
- Tax Return Member LLP 143 1
- How to prove income for a mortgage if you have no SA302s 400 5
- Amazon Fees, Sage VAT/Tax code T20? 192 4
- SA302 340 7
- US Employment Income - Double Tax Treaty 292 13
- Bringing money to Uk 296 4
- Capital Allowances on Furnished Holiday Lets Business 216 4
- Hmrc software 255 3
- What expenses can be claimed after a move to Cornwall? 191 1
- Hosted email exchange 191 5
- Xtuple 517
- Qtac payroll for bureau 355
- Confused - Professional Association a Mutual trader, or not? 298
- Industrial & Provident Societies 292
- Data transfer from Sage Line 50 to VT Transaction+ 235
- Why would HMRC offer to close an investigation by contract settlement 209
- VAT Payable on Expenses for Non-VAT Registered Ltd Co 209
- Domain name sale and limited company 181
- CIS schemes 176
- Director legal fees in loose connection to the company 151