CGT & Self Assessment

JanCee

In Dec 2008 I sold an investment property. Prior to the sale it was transferred into joint names (husband and wife) to make use of both CGT allowances.

When filling in the self assessment online forms can anyone tell me whether I should put in the actual purchase & sale prices & associated costs, or halve them so that the figures are split equally between us. I have tried to get in touch with the Tax Office to get this information but when I finally got through the adviser couldn't answer the query and I am waiting for a callback which may take up to 5 working days.

JanCee

We definately put the house in joint names before exchange as we exchanged and completed on the same day.

From what you have said - I will have to fill in 2 separate disposal worksheets, one to my husband and then another one relating to the sale. For the disposal to my husband is it half the market value or half the original purchase cost? Do we split the costs associated with the original purchase and subsequent sale between us?

Thanks for taking the time to respond to my query I have been frustrated by the lack of help I have been able to get from the tax helpline.