Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sun, 28 Jan 2024 14:23:10 GMT by
I am trying to work out how to calculate capital gains tax on a jointly owned rental property which we have recently sold. I bought the house and owned it solo in February 2009. I lived in the house as my only residence for a number of years. My husband and I got married in August 2013 and I gifted 50% ownership of the house to him. We lived in the house as our joint (and only) residence until October 2016. We then moved out of the house and rented it out. We bought a different house to be our main residence and we have not moved back into the rental property since. We sold the rental property at the end of December 2023. Am I liable for capital gains from February 2009 to December 2023 but only half of the time from August 2013? How do I calculate this? What % of capital gains is my husband liable for? How do we calculate relief as we lived in the house for different percentages of time and the ownership changed from 100% mine to 50% at a later point? Thank you.
Posted Wed, 31 Jan 2024 10:57:40 GMT by HMRC Admin 19 Response
Hi,

The following guidance includes a helpsheet to allow you to work out your figures.

Tax when you sell property

As you did not live in the property for the whole period of ownership, a gain will be likely. You are both liable for 50 percent each.

Thank you.

You must be signed in to post in this forum.