Thanks for this information
With a profit of £135,000 from which you can deduct the costs to buy and sell (such as legal, estate agent fees and stamp duty) along with any capital improvements such as new kitchen or bathroom
Then whatever is left will have the first £11,100 exempt as this is the annual exemption allowance and the remaining liable to capital gains tax.
Can you advsie what your annual income is then I can calculate the right figure of capital gains for you
Thanks for your response
We experts are not involved in the payment side of matters - but I can only see this one question- have you posted more? If so let me know and I can send a message to the customer services side of the site for you
No the tax allowance for the annual exemption is just the one off exemption for the year of sale - so just one amount of £11,100 (which is the current rate) then up to the next £32000 is at 18% and anything over and above liable to 28% capital gains tax
But if you have other annual income then not all of the 18% rate will be available, so this £32,000 is reduced to cover other income first, and just that which remains is available for the capital gain
For example - if you have an annual income of £12,000 then of the £32000 only £20,000 will remin
So the annual exemption is applied first - allowing £11,100 exempt - then in this example the next £20,000 at 18% and then the remaining gain at 28%
That is why I was asking what your annual income is each year so I could provide you with a more accurate calculation, and if you have the costs to buy (legal fees and any stamp duty) and tos ell (legal fees and any estate agent fees) and if you have undertaken any capital improvements I can provide an accurate calcaultion for you.
Let me know if I can assist further
OK let me find this additional question you posted to get you that refund
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Thanks and have a great evening