CGT

Bourgeoius · 15-11-2016 01:25PM #1

I am selling my house which was not my PPR, I had the house approx. 20 years. For CGT purposes there is a profit on the property after adjusting for inflation. I am wondering can I use the following expenses as improvements made to the house in the last few years:

1. Double Insulated windows
2. New Kitchen installed est 10k
3. Furniture Purchased included in sale price

Bourgeoius · 15-11-2016 03:53PM

Firstly thanks for your reply, The house was rented originally so for the last 5 years it is my PPR, the works were carried out when I moved into the house so not claimed against rental income, I realise I will be able to claim the house as my ppr on a pro rata basis hence reduce the profit, The issue re the furniture, When I moved in I purchased a large amount of furniture beds, tables and presses, these are all included in the final sales price. This increases the profit I made on the sale, can I not reduce the sale proceeds by these purchase? thanks again

exaisle · 15-11-2016 03:54PM

1. Yes.

2. Yes (if you haven't already claimed it against Income Tax as either a repair/replacement or as capital allowances)

3. Yes (if the amount received is more than €2,540). If it's less, then no cgt liability arises on it in the first place.

CGT

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