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    How much Capital Gains Tax will I have to pay on my commercial property?

    21 June 2024

    Question by Boring Money reader

    Hi,

    I want to sell a commercial property that I paid £10,000 for in 1986. What amount of Capital Gains Tax will I have to pay? The property agent said I should get £100,000 for it. My only income is the State Pension now but I was getting £6,000 per year in rent.

    Thanks.

    Answered by Boring Money

    While we cannot offer financial advice and do not know the nuances or the ins and outs of your personal financial situation, we can point you towards a very helpful calculator on the gov.uk website which should be able to help you out here! This 'Tax when you sell a property' calculator will assist you in working out how much Capital Gains Tax (CGT) you may be liable for in this instance. We hope this is useful for you!

    Answered by

    Boring Money

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    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.