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Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15847
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Jo ***** ***** - Capital Gains Tax, I got a property on

Customer Question

Jo ***** ***** - Capital Gains Tax
JA: Thanks. Can you give me any more details about your issue?
Customer: I got a property on right to buy, I am trying to work out what Capital Gains tax I am liable for. I received a large discount when I purchased the property and lived there for many years before moving out and renting it out. Do I use the actual price paid or due to the discount use the market value when I purchased it???
JA: OK got it. Last thing — UK Tax Professionals generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: UK Tax
Expert:  Tony Tax replied 1 year ago.

Hi.

You use the actual price paid for the property when you bought it when calculating your capital gain. There is information on the main residence and CGT here.

I hope this helps but let me know if you have any further questions.

Expert:  Tony Tax replied 1 year ago.

Hi.

I'm just following up to find out if my answer helped or if you have any further questions.