Tenants in common & CGT allowances

You are here : Member Forums Tax Planning and Financial Tenants in common & CGT allowances
John_880
John_880
24 Posts
0 Thanks

Hello, my wife and myself own several properties in our own names as tenants in common.

I am in full time employment and are a 40% tax payer, my wife does not work other than help me to run our btl business.

For tax purposes our properties are owned 99% by my wife and 1% by myself.

We want to sell one of properties but I am not sure what CGT allowance we would be both entitled too.

Are we both entitled to the full CGT allowance of £11700, or is my wife entitled to 99% of her allowance and am I only allowed 1% of my allowance.

Is the CGT allowance apportioned by HMRC depending on your beneficial ownership ie your percentage of ownership?

Any advice would be appreciated.

Regards

John

02/01/2019 21:31

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

Landlord & Investment Show London Olympia 2019
Ideal Flatmate
Envirovent
John Pye Auctions

Share this page