cgt and building work

[nigel610]

i have one property that i rent out its owned by me and have my own ltd company which manages the property have been doing a loft conversion on the property if i invoice the ltd company for £25000 would it help with my cgt when i sell

[Tax Accountant]

i have one property that i rent out its owned by me and have my own ltd company which manages the property have been doing a loft conversion on the property if i invoice the ltd company for £25000 would it help with my cgt when i sell


Generally, you cannot charge for your own labour for the work done to your own property unless you are in the buildings trade and this type of work is your normal work.

And even then, are you proposing to declare the £25,000 as your personal income from your trade as a builder etc and pay income tax and NIC thereon?

Ramnik