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Posted Thu, 23 Mar 2023 18:59:17 GMT by purchases
Is there a guide on how to complete the online 'form' please. It seems to be designed for legal owners. For example, I'm not sure how to answer the questions in the section 'How did you get the property?'. Presumably I chose 'other' and then enter my share of the market value when my husband purchased it? Thank you.

[Display name amended - Admin]
Posted Tue, 28 Mar 2023 09:46:49 GMT by HMRC Admin 17

There is no tax liability on the transfer of assets between married couples and civil partners. 

If you are a joint owner of the property, then you would enter the purchase date equal to the date your husband purchased the property and
then enter your 50% of the purchase price, costs etc.

Thank you.

Posted Tue, 28 Mar 2023 10:05:28 GMT by purchases
Thank you. My husband is selling the property and is the sole LEGAL owner. I am a joint BENEFICIAL owner of 50%. So on when I go online to report and pay the CGT do I fill it in as if I'm the LEGAL owner? Please confirm when I get to the bit where it asks 'How did you get the property?" which box to I tick? Bought it, gifted it etc. I want to get it absolutely right. Perhaps it doesn't matter as the result is still the same! Thanks
Posted Tue, 04 Apr 2023 10:21:49 GMT by HMRC Admin 32

This would depend on how your husband acquired the property. Did he buy it, inherit it or was it gifted to him. You would use the same option as your husband. If your husband inherited or was gifted the property, then you would need to use the market value of the property at the time he acquired it. If he bought the property, then you would use the purchase price, if bought after April 1982 and the market value at April 1982 if purchased before that date.

Thank you.

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