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CGT Calculation on selling rental property

Wondered if some would kindly check the calculation

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Hi

I hope someone would be kind enough to spend 5 minutes just checking this CGT calculation for selling a residential property. Thank You

Sales Dates

 

17/01/2019

Days Months
Purchase Dates  

09/06/1989

   

Private Residence Dates

 

09/06/1989-17/07/1992

1,118

37.27

Letting Relief Dates

 

18/07/1992-20/03/2018

9,242

308.07

Total Ownership

 

 09/06/1989-17/01/2019

10,583

352.77

         

Total Selling Costs

 

278,388

   
         

Total Purchase Costs

 

75,390

   
         

Capital Gain

 

202,998

   
         

Private Residence Relief

55/353

31,803

Months

 

Letting Relief*

 

31,803

Days

 
         

Capital Gain after Relief

 

139,392

   
         

 Letting Relief

       
         

Dates

Days

Letting Relief

   
         

Letting (excluding the final 18 months)

9,197

     
         

Total Ownership

10,583

     
         

Calculation

9197/10583

176,413

   
         

Letting relief: Lower of

     
         

£40,000

 

£40,000

   

Amount of PPR due

31,803

   

Amount gained by letting the property

176,413

   

 

Replies (1)

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By ireallyshouldknowthisbut
29th Oct 2019 17:27

Looks OK, you got the final 18 months PPR relief in.

If you don't do many check TCGA92/S38 for allowable costs for acquisition and disposal........

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