Liable to CGT

taxing

ceeforcat wrote: »

You will have to explain this one to me John.

By the way has no-one else experienced similar challenges by HMRC or is it only me?

Is standard tax planning. HMRC even have a whole section explaining how it works - http://www.hmrc.gov.uk/manuals/cgmanual/CG22000c.htm

Have to stress that Legal Title must actually pass to the receiving spouse so needs solicitor's involvement. And title must have been legally transferred before the asset is offered for sale.

Regards

smokey77

Thanks for all your help, the people who I am buying the house from want completion by 5 April so the timescale is tight especially when my dad moves at a snails pace! I have proof of improvements done do the property but they are in my name so I'll need to see if they can be used