This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

PPR extended relief

Peter D
Posts: 10668
Joined: Wed Aug 06, 2008 3:37 pm

Re: PPR extended relief

Postby Peter D » Wed Nov 09, 2011 9:25 am

The wife has not lived in the property as an owner so a nomination would not be valid. I ask again, how was a share of this property transferred to W. Regards Peter

Brightonian
Posts: 99
Joined: Wed Aug 06, 2008 3:31 pm

Re: PPR extended relief

Postby Brightonian » Wed Nov 09, 2011 10:41 am

I realise that the nomination would not be valid. We are visiting the client later this week and will inspect all the documentation. But, having spoken to a CGT specialist just now, I do not expect this approach to work. My feeling is that the transfer stands and we will simply have to bite the bullet. Fortunately, we are not talking about a mansion in Belgravia but a small flat in Birmingham. Fortunately, also the wife is not a higher rate taxpayer. So the damage could be a lot worse. I thank you for your help but it looks as though the matter is now closed.


Return to “Capital Gains Tax, CGT”