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Posted Tue, 06 Aug 2024 13:26:07 GMT by RNW
I inherited a property about 10 years ago which was registered in my sole name. A couple of years ago we re-registered the property as joint ownership (with my wife) on a 50/50 split. Although we have no plans to sell the property if we were to do so would the value of the property relate to the value when I inherited it or to when we re-registered as joint owners.
Posted Fri, 09 Aug 2024 08:03:39 GMT by HMRC Admin 25
Hi RNW,
As there is no Capital Gains Tax liability arising from the transfer of assets between a husband and wife or civil partners, your wife received a 50% share in the property at the value you inherited it at.
This means that should you ever sell the property, both of you have an acquisition cost using the value at the time you inherited it.
Thank you. 

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