Marriage and two properties

DOM01_2

My daughter married in July. Both she and her new husband had properties purchased 6 years ago when they were at University. They have just sold her house and bought a new home jointly using the equity from her property (120k). He has retained his property which also has equity of 100k+ and has been let for several years. Can anyone advise if there is anything legal that needs/can be done to limit future CGT. Should his property now be put into joint names and if so would this incur a stamp duty liability?

Ian_W

There are some interesting posts about CGT on a second property on THIS THREAD that may assist you.

CGT is an awefully complex tax and, in view of the sums involved, I would suggest they seek professional advice before they consider selling in order to minimise their liability and become aware of what reliefs are available [eg taper relief etc].

I would have thought it would be beneficial to have both named on the deads for a number of reasons, not least that each has a personal allowance [current tax year £8,500 I believe] to set against any capital gains. I wouldn't have thought that gave rise to SDLT, but I could be wrong.