Hi everyone
It would be so kind if someone could give me their thoughts.
I bought flat in 2012 and lived there till 2016 when moved and rented out until present. Bought a new flat with now wife where we live. Need to sell rental flat as I am now losing money due to tax changes etc.
I was told I could do a DOT to my wife so as when the flat is sold, the CGT liability could be split between us so we BOTH get the first £12k tax free (saving about £3.5k).
There is conficting advice about whether I have to tell the mortgage company, tell HMRC, reassess CGT when sold as her share wont get the residental relief as she never lived there etc.
Im literally doing this just to save £3.5k approx of the CGT when selling.
Is it worth it??
Thanks so much!
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