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Where Taxpayers and Advisers Meet

CGT calc

Herbs16
Posts:79
Joined:Wed Aug 06, 2008 3:53 pm
CGT calc

Postby Herbs16 » Wed Oct 28, 2020 10:18 pm

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

bd6759
Posts:3784
Joined:Sat Feb 01, 2014 3:26 pm

Re: CGT calc

Postby bd6759 » Thu Oct 29, 2020 1:36 am

Last 9 months (not 3years) treated as period of occupation.

For both properties the gain will be split 50/50. No need to apportion periods of ownership.

No other exemptions anymore.


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