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Posted Thu, 01 Aug 2024 12:06:04 GMT by Kam Mal
I have paid towards the mortgage and shared living costs for a property in my partners sole name since he bought it. We have now paid off the mortgage. If the property was to be transferred so it is now in joint names, would I be liable for CGT?
Posted Mon, 05 Aug 2024 14:54:58 GMT by HMRC Admin 19 Response
Hi,

There is no Capital Gains Tax arising on the transfer of assets between a husband and wife or civil partners. If those criteria are not met, then yes, there may be Capital Gains Tax to pay. Private Residence Relief may reduce or cancel out any gains.  

There is a Capital Gains Tax calculator to help you work this out here:

Tax when you sell property

Thank you.

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