I purchased an investment property in Jan 2012 (mortgage free) - join names with my wife (50:50 ownership)
The property was then changed to 99% beneficial ownership to my wife and 1% to me via a declaration of trust (in 2014) via a solicitor, and form 17 filled out and accepted by the HMRC. Rental income then split 99% and 1% for tax purposes.
Property then sold in 2018 and capital gains tax due on the profit - how do I apportion this? - simply in the 99%/1% ratios? Or do I apportion for time that it was 50% vs 99%/1%?
What about the costs (e.g stamp duty and solicitors fees, estate agents fees)? Do I split these 50%/50% for the period before the declaration of trust - or are all costs treated 99%/1% ? i.e when we purchased it the stamp duty was 50%/50% - or do we split those costs 99%/1% even though the declaration of trust didn't exist when the property was purchased ?
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