Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Ed-1
    • By Ed-1 10th Aug 18, 12:59 PM
    • 2,389Posts
    • 1,244Thanks
    Ed-1
    Capital gains tax calculation
    • #1
    • 10th Aug 18, 12:59 PM
    Capital gains tax calculation 10th Aug 18 at 12:59 PM
    Person A buys a house for 36,000.

    Later gifts half to person B.

    How is any capital gain calculated for person B if the house later gets sold for 50,000 with no private residence relief? Is person B's acquisition value 0 so when the house is sold they've made 25,000 capital gain?
Page 1
    • 00ec25
    • By 00ec25 10th Aug 18, 1:01 PM
    • 7,085 Posts
    • 6,788 Thanks
    00ec25
    • #2
    • 10th Aug 18, 1:01 PM
    • #2
    • 10th Aug 18, 1:01 PM
    to save people time, take a look at his previous CGT questions, there is a pattern to them
    Last edited by 00ec25; 10-08-2018 at 7:44 PM.
    • Ed-1
    • By Ed-1 10th Aug 18, 1:09 PM
    • 2,389 Posts
    • 1,244 Thanks
    Ed-1
    • #3
    • 10th Aug 18, 1:09 PM
    • #3
    • 10th Aug 18, 1:09 PM
    to save people time, take a look at his previous CGT questions
    Originally posted by 00ec25
    Very helpful response And please keep this thread on topic. I don't want the next few posts an exchange between me and yourself.
    • Ed-1
    • By Ed-1 10th Aug 18, 9:23 PM
    • 2,389 Posts
    • 1,244 Thanks
    Ed-1
    • #4
    • 10th Aug 18, 9:23 PM
    • #4
    • 10th Aug 18, 9:23 PM
    Answered my own question. Base cost when a property has been gifted to a non-spouse, when the recipient later sells the property, is the market value on the date of the gift (i.e. the same market value used to determine any capital gain for the person that gifted it originally).
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,383Posts Today

8,642Users online

Martin's Twitter
  • Very kind. But it'd be an economic nightmare. People would get the note out, see me, and think, nah I probably shou? https://t.co/BYtFaddGcW

  • Today?s twitter poll: Does President Trump put you off visiting the USA?? On Friday I did a poll about cities you'? https://t.co/5gbpoA9bF9

  • RT @helen_undy: We're expanding our trustee board at this exciting point in @mmhpi's development, looking for 3 talented people to join @Ma?

  • Follow Martin