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Posted Wed, 09 Oct 2024 06:31:31 GMT by Stephen Douglas
Does a person who owns his own place of residence outright but wishes to sell it and buy a new main residence in joint names with his wife incur any tax liability?
Posted Fri, 18 Oct 2024 08:36:13 GMT by HMRC Admin 20 Response
Hi,
If it has been your only and main residence for the whole period of ownership then no capital gains will apply when it is sold.
Thank you.
Posted Fri, 18 Oct 2024 12:43:27 GMT by Stephen Douglas
Thank you for your response in relation to the seller of the property. However, I also need to know whether or not the wife will incur any tax liability as a result of her being included as the joint owner of the new property.
Posted Mon, 28 Oct 2024 11:48:58 GMT by HMRC Admin 19 Response
Hi,
Not if she has no legal ownership or beneficial interest in the property being sold.
Thank you.

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