Hello and welcome to the site. Thank you for your question.If this is your second home, i.e. the property you don't live in or have never lived in as your main residence, then all gain from sale of it would be chargeable to capital gains tax subject to following deductions...You can offset the - cost of capital improvements (costs than enhance the value of the property as opposed to minor repairs) and - costs associated with buying and selling the property (stamp duty, solicitor's fees, selling agent's commission)from the gain before arriving at chargeable gain.You claim your gains annual exempt amount from it and the balance would be chargeable to CGT at 18%, 28% or a combination of both depending on your total income in the year of sale of property.
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I have occasionally lived with my parents - when allowed - both were ill and not the easiest to deal with, and although they were not aware contributed to some of the care costs, . I have bills relating to double glazing that was put in the house several years ago to make life easier for them. Sorry I do not understand re my income - I have a state pension, private pension and work part time. So my own income is limited. I am also paying council tax, normal utility bills plus gardener to keep the house tidy.
Sorry to ask more questions, the property is being sold for £106k, the property was originally bought for c£25k in 1986, my own personal income is £8268 state pension, £2388 private pension £1176 financial assistance and c£6k part time income, totally dependent on hours worked. The cost of all the work is C£11k plus another £3k for when double glazing was put in - plus estate agents fees, solicitors and other costs with maintaining the property whilst it has been empty - where do I go to enable me to get this dealt with .
Who do I need to talk to to have tax element dealt with once I have sold the property