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Capital Gains on inherited property
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Dal_Whinnie
Posts: 207 Forumite
I have tried reading other threads on this but am still not clear,
- I inherited a property from my mother in 1995.
- The property has been let ever since
- I transferred 50% to my wife in 2000
- We have now sold the property
- The cost for CGT is the probate value at the date of my mother's death
- The transfer to my wife did not trigger any tax liability at that time
- The overall gain will be apportioned equally between myself and my wife and not time apportioned
0
Comments
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That is correct, your wife is deemed to have obtained her share at the value you inherited it.1
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