Hi there.
Peter has been so kind to help with some advice with cgt when I sell my btl which I need to do since losing my job in 2010.
I earn no income but my wife earns around 17k a year ( just checked her p60). It was suggested I could gift my wife a share in my btl so we could claim both our allowances for cgt purposes.
I bought the property for 110k and hope to sell for around 150k giving me a net gain of 40k. I have never lived in the property. I have a 80k mortgage on the property.
I wish to know what I should now do to give my wife a share in the property? Do I simply find a solicitor to do this and do I have to notify my mortgage company of the share? If I were to give my wife a share - how much do I give her so we can claim both allowances?
If anyone can help me I will really appreciate it.
Ben
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