CGT on selling a share/percentage of property

If someone owns a share in a residential property (for example 50 percent) and decides to sell an additional 20% share of it to the other joint owner (making the split 70/30) How would they report the gain as the CGT online reporting account seems to be for selling the whole property or the whole of the share held.

Hi,

If the joint owners are spouses or civil partners, then there is no capital gains tax liability arising from the transfer of assets.  

If you are business partners only, you would need to apportion your acquisition costs for the property and the market value of the property at the time you dispose of your share of the property. If a gain arises, then you have 60 days from the completion date to report and pay the Capital Gains Tax.  

Have a look at he guidance below, which includes a calculator. The figures entered in the calculator are apportioned to your share of the property.

Tax when you sell property

Thank you.