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Posted Fri, 21 Jul 2023 10:59:12 GMT by
I was married in the Netherlands and following the normal practice at the time signed a marriage contract with my spouse at a public notary in which we agreed "gemeenschap van goederen", ie that all our goods are held in common. Later when my parents had to move house I paid for a share of new property, which is now being sold. The land registry mentions me but not my wife. Given that we have a legal document stating that are goods are held in common, would this enable us both to equally declare our part of the income when this property is sold?
Posted Fri, 28 Jul 2023 11:08:30 GMT by HMRC Admin 25 Response
Hi tk96,
Your marriage contract would not count towards a Capital Gains Tax liability in the UK.
As you are the beneficial owner of your share of the asset, you would be chargeable to cCpital Gains Tax on your share.
As there is no charge to tax on the transfer of assets between spouses, you could consider gifting part of your share to your spouse, before the sale of the property.  
This would be a legal matter, which we cannot advise on.
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. 
 

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