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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I inherited my mums bungalow upon her death. I rented it for

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I inherited my mums bungalow upon her death. I rented it for 2 years and sold it last summer. I have completed my annual tax return over the last two years and divulged the rental. I sold the property last July and I am now completing my tax return for 2014/20015. Can I claim the legal and estate agents fees and disbursements please? Thank you in anticipation of your advice.
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site. Thank you for your question. You can claim costs associated with selling the property as an allowable deduction from the gain before arriving at chargeable gain for CGT purposes. These would include agents fees, solicitor's legal expenses. In addition, if you have incurred any costs in improving the property (capital spend) as opposed to costs associated with repairs and maintenance, these would be allowable too. Examples of Capital spend would include replacing old bathroom for a new one, replacing a whole kitchen etc. I hope this is helpful and answers your question. If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
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