Capital Gains Tax for married couple.

lofidelity

silvercar said:

lofidelity said:

silvercar said:

lofidelity said:

Thanks. 
I'd seen that and was trying to make sense of it. So it looks like my calculations go back to 2002, when my wife bought the flat.
But, where it says
"Additionally, you should allow relief to the transferee for any part of the extended period of ownership in which the property was the only or main residence of the transferor. An example is given below."
does that mean I also qualify for the same PRR as my wife, between 2002 and 2010 when we moved out and started renting it?
Thanks.

Yes, effectively you acquire her PRR, her purchase date and her purchase price. 

Hello again,
I thought I'd cracked it but...if I record how I got it as Gift and include the date I went on the deeds (2021), it asks what my share of the market value was then and because the market value then was higher than the actual sale value, it calculates I made a loss. If I put Other, it asks when the property was transferred into my name (2021) and how much I paid for my share, which, in reality, was £0, but it doesn't allow £0, so I suppose all I can put is half of the amount my wife paid in 2002. 
Basically, is it better to choose Bought, and use all the same details as my wife, and put 2002, even though I wasn't co owner until 2021, and base it all on the price when she bought it?
Thanks for any advice you can give.

Post on the tax board - https://forums.moneysavingexpert.com/categories/cutting-tax - people on there can probably tell you what numbers to put in what box.

Will do, thanks.

lokileia

property was self occupied for 10years prior to marriage and then let out and moved into marital home. If we selll it now are we eligible for PRR for the first 10years. Property has been empty in the last 10months and let out for 8years