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bigduckontax, Accountant
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Doing a set of accounts for a property investment company,

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doing a set of accounts for a property investment company, has rentals and sells the odd property once in while.
when preparing the accounts after they have sold the property do I put the sale proceeds at the top near rental income in the P&L and the purchase costs as part of the expenses.
Or do I use the "exceptional items" line and only put the profit element in using the one figure.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Companies are not subject to the Capital Gains Tax (CGT) regime, all profits or losses merely being passed throuhgh the trading account.

However, in my opinion, such transactions are exceptional items and the profit element entered as one figure as you suggest.

i do hope that you have found my reply of assistance..

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Thank you for your support.