Hi All,
My client bought a farm back in 1997 which was in her sole name - I have the land & farmhouse valuations at that time.
She married in 2004 and the farm was put into joint names with her husband.
Her husband died in 2010 ( I have probate value for the farm). The farm was then reverted back to 100% ownership by the wife.
My client is now selling the farm to her son.
For the purposes of my CGT comps -
My client is querying whether she should get a 2010 mv uplift at probate for the farm.
My feeling is no as the transactions have been between husband and wife.
Her CGT comp base cost is simply the 1997 valuation.
Some large numbers involved so I want to eliminate any shred of doubt.
Thoughts much appreciated,
Simpsonite
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