CGT On Property Sale

Dear Team I bought a property for £50k in 1993 and lived in it as my main residence from then. in 2015 my partner moved in with me and bought 50% of the property at the market value at the time (total market value £200k, she paid £100k for her half). We lived there together until February 2016 when we bought a new residence and moved in there, retaining the original property to rent out. We've been renting it out since then, and now are about to sell it at a selling price of £250k in total. I wish to clarify the correct way in which I should carry out the CGT calculation for my interest in this property. My assumption is as follows: I carry out a calculation using the original purchase date of 50% of the property, carrying out the PRR calculation using £25k as the original buying price and £125k as the selling price, with start dates of 1993 to 2016 as the residential period and 2016 to 2024 as the non-residential period. Can you confirm this is correct, if not can you please advise what should be the method? Also can I use the full amount of initial purchase costs and improvements, or must I use half of these amounts? Thank you.

Hi,

Your assumptions would be correct. However, you also need to look at the gain you made when you sold 50% share to your partner in 2015 as this is still a gain that would need to be reported.

Thank you.