Capital gains tax when property owned 99% wife / 1% husband

Hi, looking for some advice please. In 2011 My husband inherited a property which we initially wanted to sell. Due to the econony at the time the property did not sell, so we decided to let it out from 2012 onwards. Our solicitor transferred the ownership to a 99% me / 1% husband to supplement my income as I worked part time and was a lower rate taxpayer. We have the house valuation at point of probate and the land registry document we paid our solicitor to arrange in 2012 that states the 99% / 1% ownership. The house has just sold, my questions are; 1) Should my husband and I both complete Capital gains tax declarations, if so in what proportions ? 50:50 or 99:1 ? 2) On the Capital Gains calculation page it asks for the date of purchase of the property, should this just be the date that probate completed ? ie 2011 ? Thankyou

Hi Nelly070,
As you are married, you have the choice of splitting the gain 50:50 or 99:1 when calculating Capital Gains Tax.
There is a calculator here:
Tax when you sell property
Both of you should use the calculator to work out your respective gain.
If the calculation reveals that there is no tax payable by an individual, then that individual does not need to report their gain, they can keep a copy of their calculation for future reference.
If a capital gain is payable, then you can follow on from the calculator to register for a capital gains account to report and pay the Capital Gains Tax due.
Thank you. 

Thank you your help. If we opt to split any gain 99: 1, do we apportion the capital gain tax allowance in the same way or do we both still apply a £3k allowance to each gain ? Thanks

Hi,
You both still apply £3000 as this exemption is per individual.
Thank you.