CGT where two parts of house acquired at different times

Hi, I will be gifting a property to my children and will therefore be liable for CGT. I purchased a 40% share of the house about 10 years ago, and inherited the remaining 60% from my spouse just over 2 years ago. I can calculate the CGT due on each share separately, but how can I report this using the online service? Should I file two separate returns - one for each share of the property - so I can fill in the relevant details for each one?

Hi flibulating_meerkat,
You will need to obtain the market value of the property at the time the property is gifted to your children.
This will be the disposal value.
Two calculations will be required.  The first is your 40%.
You would use your purchase price and costs and deduct this from 40% of the market value at the time of disposal.  
For the other calculation, you would use the market value at the time of inheritance plus costs and deduct this from the remaining 60% of the market value.
Both gains should be added together.
There is a calculator here that will help you work out the gains:
Tax when you sell your home 
Thank you. 
 

Thank you, that confirms how to actually calculate the tax. However, what I was really asking was how to then enter this in the online CGT return service. From what I have seen, that asks for the various dates and values involved in the calculation, in a format that assumes a single acquisition and disposal. So how should I report this more complicated split calculation?

Hi flibulating_meerkat,

You would give the original date as the date of aqusistion and the total percentage of the property that you owned. you can add on at the end the different dates/percentages for clarification.

Thank you.