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Where Taxpayers and Advisers Meet

Transfer of Equity and CGT

Joined:Wed Jan 26, 2022 2:42 pm
Transfer of Equity and CGT

Postby SHWood » Wed Jan 26, 2022 3:00 pm

Hi, I have rental property that is on my name only that I want to sell, there is no mortgage on the property. To reduce the CGT liability I intend to gift/transfer equity in the house to my Wife prior to selling the property, Is it possible to gift/transfer the equity in the house to my Wife and then sell immediately afterwards without creating any difficulties with the HMRC, or is it advised to delay the sale, and if so for what time period?

Joined:Fri May 16, 2014 3:47 pm

Re: Transfer of Equity and CGT

Postby AGoodman » Mon Jan 31, 2022 3:39 pm

Yes but,

- generally wiser to keep a gap if you can - it's just a question of risk
- it needs to be a genuine gift so your wife needs to keep the proceeds, not hand them back to you - as that would suggest that she was only ever a nominee.

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