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Where Taxpayers and Advisers Meet

CGT on disposal of buy to let to family member

andytw
Posts:7
Joined:Tue Oct 24, 2017 9:56 am
CGT on disposal of buy to let to family member

Postby andytw » Tue Oct 24, 2017 10:13 am

My wife and I have gifted a jointly owned buy to let property to our son and daughter in law.
As this is a disposal I am completing the additional CGT form as part of my own SA100 (she will do her own).
I have some questions.

1. Does the property come under the category 'Residential Property' or 'Other Property'. I presume Residential ?
2. As we are both completing SA100's I have halved all of the values, e.g. property value is £120k so I have stated £60k and halved costs etc etc. Is this the correct thing to do ?

Thanks

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: CGT on disposal of buy to let to family member

Postby maths » Tue Oct 24, 2017 9:13 pm

1. correct; residential.
2. yes

andytw
Posts:7
Joined:Tue Oct 24, 2017 9:56 am

Re: CGT on disposal of buy to let to family member

Postby andytw » Tue Oct 24, 2017 9:23 pm

Thankyou


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