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Where Taxpayers and Advisers Meet


Posts: 19
Joined: Tue Jun 23, 2009 8:46 pm


Postby jayhay » Tue Nov 13, 2018 11:38 am

My wife moved in with me when we married and since that time has rented out her own flat, which has now accumulated a significant capital gain. She is about to put it on sale and will claim her annual CGT allowance.
It has been recommended that prior to the sale she should transfer a half share in her flat to me, her spouse, so that we can claim a double CGT allowance.
Is this a valid recommendation, or would the transfer incur charges or taxes that would negate the advantage of a double CGT allowance

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Postby wamstax » Tue Nov 13, 2018 11:43 am

Yes but it was probably never your main residence at any time and therefore Main Residence Relief and letting relief losses would more than outweigh the CGT annual exemption
regards and hope this helps
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Postby AdamS93 » Tue Nov 13, 2018 1:59 pm

Probably a very bad idea, especially transferring half of the property!

Without numbers, impossible to say for sure.

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