CGT on property with Private Rental Relief available

Hello, I own a second property which is currently let and is no longer my main residence. I did previously live there for a few years, so when I decide to sell it, the CGT can take into account a period for private rental relief. Before selling, I intend to transfer the equity of this second property from just myself so it becomes joint equity between myself and my spouse. Will private rental relief still be available for the period when that property was my only and main home?

Hi SimonL,
It is not rental relief but Private Residence Relief.
Please refer to guidance here:
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. 

 

Hello, Thank you for your reply. Sorry - my mistake. I did mean Private Residence Relief. I've looked at the Private Residence Relief (Self Assessment helpsheet HS283), but there's nothing that helps me with my query which is essentially: a) I purchased a property and lived in it as my main home b) I then moved away and let it out (it was no longer my main home) c) The 'let' property equity is transferred from just myself to myself and spouse (i.e. joint equity) d) I sell the 'let' property; Can CGT still take into account Private Residence Relief for the period I lived there? Thanks

Hi SimonL,
There at two separate calculations required here. One for you and the other for your spouse.  
You would take 50% of the disposal value and deduct 50% of the acquisition costs, as well as 50% of the Fees, such as solicitors fees, estate agent fees.  
This will allow you to work out the gain.  From this you deduct your private residence relief, which is the total number of months that the property was your main residence, plus a further 9 months, over the total number of months that you owned the property.  
Thank you.