Tenants in common & CGT allowances
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.
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