short lease purchased for £2500 is extended on expiry for 20 years (no premium paid) and then assigned after 5 years. Am I right assuming that the original acquisition cost £2500 is the base cost for CGT (after being reduced by the formulafor depreciating original cost in accorance with the Sch 8 table TCGA 1992?
Replies (3)
Please login or register to join the discussion.
No. The £2,500 had fully wasted by the time the lease was renewed (it is a renewal if you "extend" it when the old lease expired).