Husband & wife CGT allowance

by **arzoot** on Thu Jan 12, 2012 9:47 am

A husband & wife jointly invest in shares, but they are purchased through an online broker account in the name of the husband.Can both annual allowances be set against any gain, perhaps by way of a statement that the husband held half of the holding in trust for his wife?

by **King_Maker** on Thu Jan 12, 2012 11:06 am

Yes, so long as the wife has a beneficial interest in the shares.

For future sales, it might be easier if the wife were added to the account?

by **arzoot** on Thu Jan 12, 2012 4:02 pm

Thank you for the prompt reply.

What would I need to satisfy HMRC that this is the case, should they question it.

by **maths** on Thu Jan 12, 2012 8:52 pm

The analysis depends upon the intentions of the parties and surrounding facts.

If the intention is that shares are to be purchased for joint beneficial ownership by both parties then any capital gains and any dividends belong to each in proportion to the agreed split (eg 50/50).

However, if the shares are held in one name only the other person must be able to prove that they made a 50% (re above example) contribution to the purchase out of their own resources.