What allowable expenses can I deduct from my profit when calculating UK Capital Gains Tax on the sale of a rental property, besides purchase price and selling fees?
Quick Answer
Beyond purchase and selling fees, allowable CGT expenses for rental properties include legal costs for acquisition/disposal, capital improvement costs, and certain professional fees, reducing the taxable gain.
About This Topic
Maximise profit on rental property sales by understanding allowable Capital Gains Tax deductions beyond purchase price. Basic rate taxpayers pay 18%, higher 24%, with a £3,000 exempt amount. Includes legal fees, capital improvements, and professional costs.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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