Capital Gains Tax - 2006/07

My grey matter is taking over, CGT rules back in the day of taper and indexation relief have escaped me - can anyone help?

 

Property owned 50/50 between husband and wife

Bought June 1996 for £130,000 + legals (TBC)

Sold December 2006 for £450,000 - legals (TBC)

Used as FHL all the way through (75% of building), but also PPR for H&W (25% of building)

 

Can anyone point me in the right direction?  I'm assuming the 25% "home" qualifies for PPR (they owned no other properties at this time), is letting relief applicable?  I'm struggling to work out the taper relief as I simply can't remember how it works anymore (out of sight, out of mind, etc!)

 

I'd be very grateful if someone could post an answer :)

 

Thanks

Comments
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A good starting point

01638603404 |

Interaction of PPR and business taper

HeavyMetalMike |

2006/07 ?

Mouse007 |

Thanks all - to clarify.....

cmclaren1978 |

The reason for the enquiry...

Steve Kesby |
Steve Kesby's picture

Letting relief? Taper relief?

cmclaren1978 |

Aha!

Steve Kesby |
Steve Kesby's picture

Sold as one

cmclaren1978 |

Confirm your facts

Steve Kesby |
Steve Kesby's picture