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!
Capital Gains Tax - Which purchase date of property to use?
Jessie1608
Posts: 1 Newbie
My husband bought a house with his then wife in 1988, for £32,000. He divorced and bought his ex-wife's share in the property in 2006, when it was valued at £145,000.
The house has been rented out since October 2008, but he is hoping to sell it at the end of the current tenancy period.
Which date should be used when calculating the CGT, 1998 or 2006?
Thank you.
The house has been rented out since October 2008, but he is hoping to sell it at the end of the current tenancy period.
Which date should be used when calculating the CGT, 1998 or 2006?
Thank you.
0
Comments
-
He owned 50% of the property from 1988 (or 1998?) till 2006.He owned 100% from 2006 to date of sale.CGT is based on is ownership % from those dates, subject also to the allowance for period(s) when it was his main residence.2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards