There has been little appreciable gain in price during the time the house was let
Q We are in the process of selling our former family home which has been rented out for the past eight years. We lived there from 1987 until 2012.
The value of the house increased from the £91,500 we paid for it in 1987 to £325,000 in 2012, but has gained only £5,000 since then as we have just accepted an offer of £330,000. As there has been little appreciable gain in price during the time it was let, how is the actual gain calculated? I have assumed that we only pay capital gains tax on the £5,000.
IE
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