Capital Gains Tax Online Report

Hi hope you can help. Appologies for the long question. My mum and dad have recently sold a jointly owned second home and as such need to report a capital gain individually to the HMRC. My dad bought the property in the late 70s and after meeting and marrying my mother later gifted her 50% share. As the property was purchased before 1982 we understand that the market value in 1982 must be used. Although my mother recieved her 50% share as a gift (inter-spousal transfer), My understanding of the law is that when the property was sold she made a taxable gain on the difference between 50% of the market value in 1982 and 50% of the sold/disposed price. My fathers position is clear however i wanted to clarify the option we should select for reporting my mothers gain online as it gives us four options; 1) Bought it 2) Inherited it 3) Got it as a gift 4) Other Now if we select 'bought it' this seems to be ok as we put half the 1982 value in and it produces the correct figure to pay the HMRC. However if you select 'got it as a gift' it shows no gain payable and we believe this to be incorrect. So really what I'm trying to clear up here is what does she select 'bought it' or 'got it as a gift'. If she selects bought it, does she enter half the 1982 figure and the same purchase date as my father's? Or does she enter this as a gift with the date her name was added on the Land Registry (we think this to be incorrect as no monies are due to the HMRC following the online submission option). Please confirm.

Hi Andrew Jeffreys,

As it was a gift between spouses, the gain arises on the disposal based on the original date of acquisition.
As such it will be treated as bought for the purposes of the disposal form.
Thank you. 

Hi, Help please. Moved from UK to AU on 5/04/23 and was in process of selling house. Due to complete before we left, but couldn’t. Due to complete soon. I’m not working here. As I’m aware I get full CGT relief due to criteria of residential address & final period of 9 months. Is this correct? Also some advice on my CGT form for liability, concerning income, basically on savings and how much allowance I get being non resident at this time?

Hi tredders70
Yes you get the additional 9 months to add against any potential Capital Gain.
You will still be allowed the personal allowance 12570 to set against any UK income you still have.
Thankyou.

Hi, tredders again. Trying to fill in report disposal online. Am I classed as a non resident at time of disposal? I left uk for Aus. 3/4/2023. Exchanged & completed on 8/9 June. So eligible for 9 months PRR. For the initial gain or loss, do I use purchase price or rebasing price? I made impression before 2015 too.

Hi tredders70,

You would need to do the RDR3 Statutory Residence Test to establish your residence status in the tax year of the disposal of the property so that would be 23/24 if the disposal was 8th June.  If established you are non resident or in the overseas part of a split year at disposal you then have the option of  3 methods of calculation including rebasing.
You can choose which to use. see:- Report and pay Capital Gains Tax for UK property disposal from 6 April 2020.

Thank you.