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# London buy to rent flat bought for £120,000 in 1995 now

London buy to rent flat bought for £120,000 in 1995 now valued at £600,000 what is capital gains?

Hi,

Assuming you have never used that house as your primary residence, your Capital gains would be = Net gains from the sale - CGT allowance - Expenses (like stamp duty, legal fees on purchase/sale, Fees of estate agent, Property improvement costs)

Net gains from sale = (£600,000 - £120,000) = £480,000

CGT Allowance (for 2017/18)= £11300

Expenses = Depends upon how much you paid

Capital Gains liable for tax = £480,000 - £11300 - Expenses = £468,700 - Expenses

For more accurate calculations, I recommend that you use the following calculator and enter all the personal information requested -

https://www.tax.service.gov.uk/calculate-your-capital-gains/resident/properties/

Please let me know if there is anything else I can help you with today. Will really appreciate if you can kindly accept the answer.

Regards,

Manas

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