Help with Capital Gains Allowances

lionel01

Can you good people give me any indication of Capital Gains allowances we may have missed?

My wife bought a freehold property in April 1992. From then she traded as a hairdresser until 1997 when she sold the business and continued as commercial landlady until she sold the shop freehold in December 2019

We have all the normal allowances covered like cost of buying, selling, property improvements etc, but are being careful we have not missed anything.

In particular

1. Indexation, tapered relief etc that existed during the early years.

2. Entrepreneurs relief.

3. Anything else.

Thanks so much

Pennywise

1 - No longer relevant
2 - Doesn't qualify for ER
3 - Can't think of anything else.
She'd have had to sell it years ago when indexation, taper relief, etc was in force.  All that's gone now.
She'd have had to sell it shortly after stopping the hairdressing to qualify for ER.
The only thing you've missed is that she could have transferred half the property to you back in 2019 (or earlier) and then you'd have both been able to use your annual CGT allowance, any unused basic rate band etc.

lionel01

Thanks for the prompt reply. It was just nagging at me that there may have been an element of indexation, taper relief, etc from 1992 till when it was stopped in about 2008.
Thanks also for picking up on transferring part of the property to me before sale - we did in fact do that.

lionel01

Will keep checking in here to see if there are other inputs. There's a couple of weeks before I do the tax return form.

[Deleted User]

When taper relief stopped that was it. If the asset was sold after that you didn’t benefit from taper relief up to when it stopped.