CGT on a rental property & marriage

CLAPTON

just a further thought on the matter

while of course all tax rules can and do change with time, there has been quite a lot of speculation that cgt rates will rise. It's a bit of an obscure tax and most people never pay any, so it's an obvious candidate to be increased by which ever government gets into power next.

KPR11

jimmo wrote: »

No he won’t
His first disposal will be a part disposal to his wife and will take place at no gain / no loss.
http://www.hmrc.gov.uk/manuals/CG1manual/CG22200.htm

I am aware of the nil gain nil loss dispsal but am not sure about PPR and particularly letting relief being available going forward.

Have you got any guidance which allows you to claim PPR / Letting relief on the husband's share of the property (after he transfers half to the wife)?

Per my understanding, if the wife had moved in and he were to transfer half since it was their main residence PPR would still be available. However, as he has moved out and it is no longer his main residence then no relief is given (even for his share of the property) as the two joint owners are deemed to be new owners - i could be wrong!

Any guidance is appreciated!