My client bought a time-share in Spain 5 years ago. It was described as' the right to occupy flat 14 for 2 weeks a year for the next 15 years'. He has recently sold it at a loss of £24000. Can this be claimed as a capital loss?
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Wasting asset
I think you will have to amortise the allowable cost, so the actual loss may exceed the CGT loss a bit
With kind regards
Clint Westwood
[EDIT] I guess you already noticed that, from the tag.