Property Sales

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spurschic1@yahoo.com
spurschic1@yahoo.com Registered Posts: 94 Regular contributor ⭐
in General accounting discussion
Hi all,

Has anyone got experience with a rental company that has sold a property?

I am completing a set of accounts now the property has been sold and the value of the property has increased since purchased. Anyone know how I account for this?

Thanks
Vicky

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Compute it like you would a capital gain, I believe.
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    Yes, rental properties are investments, so you need to do a CGT calculation and complete CGT pages.
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    When you say company, I assume you mean Ltd Co?

    I've not had to do "capital gains" for a Ltd before, but I believe there are boxes on the main CT600 which cover it. I think they are called chargeable gains for a company, can't remember.

    If by company you just mean an individual with a property business then yes, it goes on the SA100 capital gains pages.

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