Can some one just confirm I have understood correctly, that if a business asset is sold (A holiday let cottage) and for examples sake there was a gain of £31,200, the two equal partners gain £15600 each, and are liable for £900 CGT each
Also when do changes to CGT take effect? HMRC site only shows allowances for 2011-2012, as the latest figures.
While I understand that purchasing cost incured (solictors/ agents fees etc) and selling costs, are taken in to consideration, plus cost of improvements (but not normal repair costs), is mortgage interest deducted as a cost, as there has already been an allowance against profits?
