If I sell one of my rental properties, how is Capital Gains Tax (CGT) calculated, what allowances can I use, and are there any reliefs I should be aware of to reduce the bill?
Quick Answer
CGT on residential property is 18% or 24% after a £3,000 annual exemption. Deduct costs of purchase, sale, and improvements. Reliefs exist for periods of owner-occupation.
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CGT on residential property is 18% or 24% after a £3,000 annual exemption. Deduct costs of purchase, sale, and improvements. Reliefs exist for periods of owner-
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