Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I sold a flat last year which I had owned for 11 years. I lived in it for the first 2 years, before moving into a house with my partner. I made a reasonable profit on the transaction, but also spent quite a bit on refurbishments (kitchen, bathroom, decorating, etc…) while it was rented and during a 3 months void.
I accept I need to pay CGT, but don’t want to pay more than I need to, and I’ve tried to understand what I can claim against profit, but it’s not straightforward. But there will be some on here who understand this in depth, and know how minimising CGT liability.
Can someone please advise in simple terms.
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