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Where Taxpayers and Advisers Meet

Wifes property

KGA1956
Posts: 1
Joined: Mon Aug 12, 2019 12:48 pm

Wifes property

Postby KGA1956 » Mon Aug 12, 2019 1:00 pm

My wife owns a property inherited from her mother some years ago.
It has never let as we have over time been renovating it it.
She says she would now like to sell our house as our prime residence and move into the house she owns.
My question is that as we would be selling our home as as our prime residence would there be any danger of incurring CGT during the process?

We had considered selling both properties and buying another property with the proceeds, but having read a bit on CGT I believe she would incur CGT on her property.

Thanks

pawncob
Posts: 4323
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Wifes property

Postby pawncob » Mon Aug 12, 2019 4:18 pm

Assuming it has always been your PPR, no CGT arises on the sale.
With a pinch of salt take what I say, but don't exceed your RDA


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