Calling Mr Raygun, or other CGT experts...

Are you THE Keith Brown whose dad does odd joinery jobs?

OK

None of that matters. All that matters is when your flat was or was not your main home.

Given that the flat was your main residence for the first 13 out of a total of let's say 59 months of ownership, this means the last 36 months also qualify for Private Residence Relief, which means that (13+36)/59 of your gain (of £71k) will escape taxation. In addition, the remaining 20 months qualify for Letting Relief. This means that the remaining 20/59 of the gain will also escape taxation (provided 20/59 is not more than

49/59 (which is the case) and also provided 20/59 of £71k is not more than £40k (which is also the case)).

Therefore the entire gain will escape taxation. Good, eh?

The solicitor does not usually get involved in this, though he may recommend that you seek an accountant's advice regarding whether any CGT will be due. Your solicitor might give tax advice himself, but chances are he won't.

You must volunteer this information to the IR if tax is due, but as no tax is due, I don't think you need to volunteer this info.

But if you already complete a tax return anyway, one of the questions asks whether you need to complete the Capital Gains pages if relevant circumstances have arisen, and in your case the answer would be yes, you would have to complete those pages, even though the calculation will show that no tax will be due from this disposal.

I am THE Keith Brown.

Thanks for the advice: it makes good reading, and agrees with my own reading of various websites.

Cheers.

"Ronald Raygun" wrote

I can't help noticing that: 59 -13 -36 = 10, not 20. Was that a slip on your part, or is there a reason for the figure 20? ;-)

Just testing.

Oops. OK, thankfully 10/59 is even more less than 49/59 than 20/59 is, and 10/59 of whatever the raw gain in fact turns out to be is even less likely to exceed £40k.