Captial gains tax beginner

Tax Planning and Financial

I am pleased to say I am facing my first capital gains tax return, having sold my first property for many years.  The scale down has begun!!!

I have read Tax Cafe latest guide on property tax.  I will fill in report and pay within 60 days of transaction.

Questions ;

Property was jointly owned in personal names with wife.  Does Mrs have to do her own return to mirror mine?

Does full electrical rewiring count as capital improvement or maintenance repair?

What about a boiler fitted and gas central heating fittted in a house where there was no boiler and no rads.?  I am going to claim for the building work in removing chimney breasts and adding an extra bedroom as an extension/improvement.

I managed to get the transaction through on 4 April so can claim higher allowance £12300.

I have to say how wonderful it is after years of building this business model in my head and on paper to finally have a nice chunk of capital profit in the bank....