In 2017 I inherited a property with my sister valued at 170k . We each have a 50% stake in the property which we rent out.
I am considering to give half of my share to my wife so that the rental income can be shared between us.
By doing this does this make future CGT better or worse
I am assuming that a future profit on the property is anything about 170K after costs
currently my allowance before capital gains tax is £11700 on the 50% share
if I split my 50% with my wife we both get £11700 allowance so effectiveley my allowance has double on the 50 % share
have I interpreted correctly correct.
how does rental allowance work.
thanks
Rob
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