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Post Info TOPIC: Capital Gains


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Capital Gains
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Hi

Does anyone know how I can find the value of a house in 2004 , I know the obvious answer is ring the estate agent but I wondered if there was another option?

Georgie



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Expert

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Hi Georgie,

you can find out how much houses in the road were sold for at various sites like: www.rightmove.co.uk/house-prices.html

This should list prices of houses that were sold over the years.

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Rob
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Ok thank you... You seem to be helping me a lot at the moment lol

Georgie

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Am I?! Happy to share what limited knowledge I have!

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Rob
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Would anybody mind giving this CGT computation the once-over?

It seems illogical to be claiming the £19K twice......... but since when was tax logical captain :)

 

Thanks in advance.



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Expert

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You can't deduct it twice, the gain before the annual exemption would be £19,539

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Rob
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Right thanks Rob. I wasn't getting that from 6 websites and 3 tax books.

Is it that one can only claim either Private Residence OR Lettings Relief ?

Tim

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Georgie, you could also try mouseprice.com if Rightmove doesn't give you the info you require, although it's possible they are both accessing the same database.



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John



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I think the result may be more like £23,600 ish as the it is now the final 18 months not 3 years that is considered PPR

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Rob
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sorry, duplicated post



-- Edited by 111 Bookkeeping and Payroll on Thursday 14th of August 2014 12:18:53 PM

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John



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Hi Rob,

I'd possibly overlooked the 18 month change as it was sold in January 2014.

LETTING RELIEF   Think I'm getting it now.  Helpsheet 283 pg7 Example 9 is the closest to my circumstances BUT LETTING RELIEF isn't the lowest of the 3 alternatives.

So he doesn't get any in that case.   Ahhh well, I don't think he'll stick his head in the oven or anything.

I just couldn't find anything that specifically said all 3 were excluded.

 

Thanks again,

TIm

 

 



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Tim,
I may have to retract that you can only claim once, just looked at the rules again and it seems you can get extra lettings relief of the lower of the PPR, 40K and the gain attributed to letting. Back to the books!

 



-- Edited by RobH on Thursday 14th of August 2014 04:44:27 PM

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Rob
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No probs at all Rob. I'm grateful to bounce it around with someone. I asked six colleagues and they're either 'no can do', busy or shy lol.

My tax cafe property book seems to be quite positive that the relief can be claimed twice so to speak. As for my main manual; well, I could write down what it says on my little finger.

Back to the books :)



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I've looked on Rightmove and Mouseprice and there was no houses sold in the year I am looking for. What do I do now, any suggestions?

Georgie


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I would suggest Zoopla but the price comparison only goes back 5 years (Unless like rightmove there are sales to compare to).

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



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Georgie, if you are really stuck then you may have to go to some expense and employ the services of a chartered surveyor. Alternatively perhaps a call to the official Valuations Office Agency may be able to point you in the right direction.

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Rob
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Another site you could try would be 192.com. They have details of house sale prices.

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Thanks, but you know what I did.? I went on Google Earth and checked the houses in the next street. As they looked the same I found one sold in the year I needed and have used that....enterprising little thing aren't I ?



Georgie

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