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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 9582
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I have a 2nd house that I am selling. It was gifted to me in

Customer Question

I have a 2nd house that I am selling. It was gifted to me in 2004. How do i calculate the tax I need to pay?
JA: Have you talked to a tax professional about this?
Customer: No, this is my first enquiry
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: Nothing else thanks
Submitted: 10 days ago.
Category: Tax
Expert:  bigduckontax replied 10 days ago.

When it was gifted did you elect as to which of your dellings Private Residence Releiof (PRR) would apply?

Customer: replied 10 days ago.
It was verbally gifted to me, and my name was changed on the land registry when I purchased the freehold.
Expert:  bigduckontax replied 10 days ago.

But you never made the election?

Customer: replied 10 days ago.
I have just paid for the call!
Customer: replied 10 days ago.
Do I get my money back?
Customer: replied 10 days ago.
Do I get an answer to my question?
Expert:  bigduckontax replied 10 days ago.

The call charge does not crystalise until i advise Just Anser that it has been sucessfukllly completed.