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CGT Liability on BTL Property
We (wife and myself) have recently sold one of our BTL properties and have a query around GCT liability. Our net gain since buying the property in 2008 is approx £72k.
We bought the property with a joint tenancy arrangement between myself and my wife but in 2017 changed the ownership ratio to tenants in common with a 90/10 ratio in favour of my wife.
In calculating CGT liability do we need to split the CGT liability between pre 2017 at 50/50 and then post 2017 at the 90/10 ration or is the previous ownership ratio irrelevant and it is only the current ownership ratio that matters?
Comments
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Transfers between spouses have no CGT effect and transferee assumes transferor's base cost. So previous ownership ratio not relevant for CGT.1
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