I refurbished and sold a property recently. The value added by way of refurbishment works is subject to CGT - the property was an inheritance, isn't a PPR and isn't a company's asset.
I've been told by a friend that the CGT due can be used to purchase CFD's and that the way it works is that: any loss made on the CFD's is suffered by Revenue and I pay the CGT minus this loss. And that any gain made on the CFD's is retained by me subject to that gain itself being subject to CGT (along with payment of the original CGT amount)
Is that the case and could someone give me a thumbnail sketch on the detail of this?
Cheers..
I've been told by a friend that the CGT due can be used to purchase CFD's and that the way it works is that: any loss made on the CFD's is suffered by Revenue and I pay the CGT minus this loss. And that any gain made on the CFD's is retained by me subject to that gain itself being subject to CGT (along with payment of the original CGT amount)
Is that the case and could someone give me a thumbnail sketch on the detail of this?
Cheers..