Thanks for your response
The position is as this
You are not entitled to any relief, on the basis that you never lived here as your main residence, and subsequently, no lettings relief is due either.
So its a straight forward calculation as follows
Sale price (estimated £200,000 less value at the time you acquired it £65,000, so the initial gain is £145,000
From this you can deduct the refurb costs of £20,000 and the cost (approx) to sell £4000
This leaves £121,000
The first £10,600 will be exempt, as this is your annual exemption allowance for the year of sale (assuming its just your sole name) this leaves £110,400 to be considered for capital gains
If you annual income is in excess of £42475 a year, then this gain will be fully liable at 28% = £30,912 capital gains tax.
But if your annual income is less than £42475, then some of this will be liable at 18% (the equivilent of unused basic rate band) and the remainder at 28%.
To calculate you unused basic rate band - you deduct your annual income from £42475 and this is your unused rate band.
(Just note that if your annual income is less than the personal allowances, which currently stands at £9440 then these are not available to use- so its the unused basic rae band between £9440 if under 65 and £42475)