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Where Taxpayers and Advisers Meet

CGT query

Herbs16
Posts: 69
Joined: Wed Aug 06, 2008 3:53 pm

CGT query

Postby Herbs16 » Mon Oct 15, 2018 11:57 am

Mr L owns a rental property, cost £32k in 1996

Transferred 50% to spouse and jointly owned from 2011, value then was circa £110k

now valued at £130k, always rented out

Mr £35k income, Mrs £33k

CGT please?

maths
Posts: 7600
Joined: Wed Aug 06, 2008 3:25 pm

Re: CGT query

Postby maths » Mon Oct 15, 2018 6:41 pm

Mr: Gain is 65k less 16k less annual exempt amount.

Mrs: Gain is 65k less 16k less annual exempt amount

Value 110k irrelevant.


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