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Capital Gains Tax
3 Answers
Hi,
I have a question re. capital gains tax;
The house my husband & I live in is solely in my name, we have lived here for 24 years and don't have a mortgage on it.
If I sell it to him & buy another house (just in my name) will I have to pay capital gains tax?
The idea is that we both live in the new house, he does the original one up & sells it in a couple of years.
Thanks in advance.
I have a question re. capital gains tax;
The house my husband & I live in is solely in my name, we have lived here for 24 years and don't have a mortgage on it.
If I sell it to him & buy another house (just in my name) will I have to pay capital gains tax?
The idea is that we both live in the new house, he does the original one up & sells it in a couple of years.
Thanks in advance.
Answers
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The transfer or sale of property between married couples are free of CGT.
Why not put both properties in joint names, any CGT due then at the time the rental property is sold you will have 2 CGT allowances to set against any gain.
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Why not put both properties in joint names, any CGT due then at the time the rental property is sold you will have 2 CGT allowances to set against any gain.
https:/
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