Good afternoon,
I wonder if the experts could help with some advice regarding CGT.
I am married and our main home is in my name. The current value of this property is around £450k, purchased many years ago for around £72k.
We subsequently bought a holiday home in the UK for £162k and this is in joint names with equal shares.
We would like to sell the holiday home with a view to purchasing a larger property in the same location to become our main home at some time in the future, with me finally selling the current main home.
My question is, is it possible to transfer the second home into my husbands name so as to avoid me paying CGT when we sell this property. Alternatively is there any other way of reducing our tax liability regarding the properties.
Many thanks for your help.
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