Final clarity re cap gains please?

Supercalafragalistic

Hi there
Just need a final bit of clarity with this please if anyone can help..
Property purchased say for 12k by Me
Lets say 8k spent on it for easiness. , so 20k in total
Put my dear lady on property as joint tenant from this year.

Lets say i die and good lady sells it say for 120k ( so gain is 100)

What is the cgt position....would it be
A. She holds the whole of the chargeable gain of £100k,(- the usual bits n bobs)

B. jI ‘absorb’ 50k of the gain through deathvia iht (although there wont be any iht as assets All left to wife)

C. None of the above?

Many Thanks

sheramber

Is this a main residence or a second property?

00ec25

sheramber wrote: »

Is this a main residence or a second property?

it's the same question from his thread yesterday
https://forums.moneysavingexpert.com/discussion/comment/75942750#Comment_75942750

Supercalafragalistic

sheramber wrote: »

Is this a main residence or a second property?

Hi its a buy to let property which has never been resided in
I posted yesterday to try and get a final sanity check on my understanding bit failed miserably, so i thought id give it a final shot.
Please forgive me if this is not the correct etiquette.
Thankyou

jimmo

Try again but assume:
Original purchase £20k
Value of entire property at the date of your death £100k
Subsequent sale £130k.

If you gift a half share to your wife now she will acquire it at £10k
You will retain your half share which cost you £10k.

When you die your wife will inherit your half share at probate value £50k
She will then own the whole house at a cost of (10+50) £60k
If she sells that for £130k she will have a capital gain of (130-60) £70k.

If you retain ownership of the whole house until you die your wife will inherit the whole at £100k and when she sells that for £130k she will have a capital gain of £30k.

Does that make it any clearer?