My client owns two properties. One (property 1) bought 17 years ago, lived in for six months and then rented out.
capital gains tax
I would like others thoughts on an issue I have.
Property owned for 22 years and recently sold.
Basically lived in for 2 years at purchase = MAIN RESIDENCE RELIEF
The government has published draft legislation that will shorten the final period exemption for CGT relief on primary residences from April next year.
The government has announced two important changes to capital gains tax (CGT) in the Autumn Statement 2013:
1. Private Residence Relief (PRR)
The Autumn Statement (formerly known as the Pre-Budget Report) for 2013 will be provided by George Osborne on Thursday 5 December 2013.
Key Lessons to be learnt
George Osborne, they say, is considering charging capital gains tax (CGT) on the sale
Could someone please help me with how I go about calculating the gain made on the sale of an outbuilding with land which was attached to my rental property?