Can someone help me on my cgt calc please?
2 properties, [presuming sold in different financial years to get AE each time.
Sale 190 now
Cost 40 1996
Gain 150
Lived as PPR 1996-2012, plus ignore last 3 years (?)
Gain is 5/24 x 150 less 2xAE (joint ownership) = £6,650
Wasn’t there something else about it being under £40k so no CGT?
Second one is:
Sale 135
Cost 32.5 1996 wife name only
Become joint property in 2012, always was a rental.
Is this 1996-2012 – 100% wife, 2012-2017 joint, ignore last 3 years
Gain is £135-32.5 = £102.5 – 2xAE = £77.9k
He gets 50% of 5/21 x 77.9 = £9,274
She gets this plus 100% of 16/21 x 77.9k = £68,626
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