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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 16238
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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My Family home has just sold 30 April 2021 we are nearing

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Hi SamMy Family home has just sold 30 April 2021 we are nearing the end of divorce proceedingsI have made some calculations for the CGT owed by me on my share of the profits on the house would you be able to look at them and tell me if i have got the rightMy Share is £84128.85total time of ownership 204 months (april 2004 to april 2021)
Separated march 2018 (37 months)204 months -37 months = 167 + 9 months allowance total 176 months176/204 x £84128.85 = £72158.53 total relief£84128.85 - £72581.53 = £11547.1018 % of £11,547.10 = £2078.48So £2078.48 total CGT to payis this all correct

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

You forgot to award yourself the annual exemption allowances at this stage

204 months -37 months = 167 + 9 months allowance total 176 months

176/204 x £84128.85 = £72158.53 total relief

£84128.85 - £72581.53 = £11547.10

Less Annual exemption allowance £12300

Gain is Nil to declare and Nil to pay

Thanks

Sam

Customer: replied 8 days ago.
nothing to pay?

hI

That's correct

NIL to pay

Thanks

Sam

Sam and 3 other Tax Specialists are ready to help you
Customer: replied 8 days ago.
Thank you so much you have made my day

Hi

you are very welcome

Thanks

sam