capital gains on selling uk apt.

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pumps

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I sold uk apt in Jan 06 for profit of £l2,000. Rental income for 20 months matched interest paid. Can I offset management/maintenance charge against sale profit in addition to solicitors fees and stamp duty? If not can management/maintenance charges be offset against future rental income on another uk property? As I did not convert £l2,000 profit to euro at the time, what rate do I use when calculating my CGT?
 
Management/Maintenance charges should be set against rental income in the period it relates to. Yes rental losses can be brought forward and set against future rental income. You cannot offset rental losses against other types of income. Solicitor fees and stamp duty are deductible in calculating your chargeable gain for CGT purposes. See the following link regarding which exchange rate to use :
[broken link removed]
 
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