Selling BTL - saving CGT?

Skint_Catt

We don't have a son or daughter - we've only been married 3 weeks and are in our 30's! It was sold to my OH by his father at a discount as a BTL (sitting tenants) but we've never lived there so that's all irrelevant.

Anyone know any financial advisors we could get a free half hour or so with?

ILW

clutton wrote: »

unlimited bonking

Thats what you are led to believe, until she has the ring on her finger.

silvercar

Skint_Catt wrote: »

We don't have a son or daughter - we've only been married 3 weeks and are in our 30's! It was sold to my OH by his father at a discount as a BTL (sitting tenants) but we've never lived there so that's all irrelevant.

Anyone know any financial advisors we could get a free half hour or so with?

You need a tax accountant rather than a financial advisor. Though the tax board of this forum would do just as well.

CLAPTON

assuming he has never lived in the blt
then he can transfer half the house to you but it must be before the contract is signed (and not completion date) so you can both use your 10,100 allowance

as the cgt is 18 or 28% depending upon the gain and your income then a transfer different from 50-50 may be better.

Skint_Catt

Thanks all, maybe I can repost on the Tax Board to see what they say.

No, he's never lived in it and yes we're trying to get the transfer done before we even instruct the estate agents to save confusion.