CGT & Multiplier

M

mickeyg

Guest
CGT & Multiplier

I have a query relating to the costs to which the multiplier applies.
I bought a site back in 2000 and this year sold it with a house thereon and am now calculating the CGT payable. Is the cost to which the multiplier applies just the purchase cost of the site or is it the cost inclusive of the Stamp Duty and/or Solicitor's fees incurred in site purchase??
 
Mickey,

The cost used for CGT purposes can include any incidental costs in relation to the purchase of the site, so yes, your solicitors fees can be included.

Stamp Duty may not be included.
 
Hi Mickey

It would be a good idea for you to get proper professional advice on any tax implications (not just CGT) arising on the sale. If you developed the property for resale there may be income tax and VAT angles also.

Best of luck with it.
 
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