We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
CGT Calculations on Tenants in Common with higher band and lower band tax bracket
hgd7
Posts: 40 Forumite
Hi all, I am trying to work out the CGT on a rental property that I am looking to sell.
I purchased the flat for £295k in Dec 2014 in joint ownership with my sister 50/50. I lived there alone for 1 year before deciding to rent it out, which it has been since now.
In May 2019, I changed ownership to be with my wife (90:10 spilt in her favour, once we got married). I am a higher tax band payer and she is lower. We both do our SA each year and have our own house which we mortgaged, and are now looking to sell the rental flat for £350k. Can you help working out the CGT for us both? Not sure if it makes any difference she came into the deeds later or not etc. Thanks
I purchased the flat for £295k in Dec 2014 in joint ownership with my sister 50/50. I lived there alone for 1 year before deciding to rent it out, which it has been since now.
In May 2019, I changed ownership to be with my wife (90:10 spilt in her favour, once we got married). I am a higher tax band payer and she is lower. We both do our SA each year and have our own house which we mortgaged, and are now looking to sell the rental flat for £350k. Can you help working out the CGT for us both? Not sure if it makes any difference she came into the deeds later or not etc. Thanks
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards