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Posted Mon, 08 Jan 2024 21:04:40 GMT by
My wife and I bought a property in 1999 which was our main resident till 2009. I have paid for it but the title deeds are in her sole name only. In march 2022 we signed Declaration of trust by individuals as joint tenants (equal shares) so we both were the beneficial owners. The property was sold in December 2022 and proceeds from the sale of the apartment was transferred to our joint account. I assume we have to submit separate tax returns to HMRC in respect of the CGT divided equally but have to be sure.
Posted Mon, 15 Jan 2024 12:33:33 GMT by HMRC Admin 19 Response
Hi,

Yes, you both need to report the gain. You can see guidance here:

Report and pay your Capital Gains Tax

Thank you.

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