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Can I allow accountancy costs in CGT calc

Can I allow accountancy costs in CGT calc

Client has to complete a tax return solely as she has a cgt disposal. 

Can the costs of this TR be claimed as an expense in the CGT calc?



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27th Jan 2012 19:12

If only

I have something similar, ie clients who only need to do a tax return because they have income and just like them I'm afraid, your costs are to help your client fulfil her tax obligations not anything todo with the sale (or purchase) an asset.

The closest you'd get is to look at "incidental costs" but, in an unusual case of continuity, such costs must be "wholly & exclusively" to do with the making of the gain.  I'm pretty sure that an accountant's fees connected with reaching the reportable value of an asset is OK (say in valuing gifted shares) but that's about it I'm afraid.

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