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Posted Sun, 12 May 2024 07:17:35 GMT by Neerav Shah
I hold a buy-to-let property in my name which I assigned 100% beneficial interest to my spouse a few years ago using a Deed of Assignment. Since then the property income has been going to my spouse which she has declared in her self assessment annually. I have recently sold the property and so want to know if my spouse should complete the CGT return given she is has 100% beneficial interest. Can someone please help? Thank you.
Posted Thu, 16 May 2024 05:02:07 GMT by HMRC Admin 25 Response
Hi Neerav Shah,
Although you are the legal owner of the property, your wife is the benefifical owner and as such, she will be taxable both on the income from the property and capital gains arising from the propertie's disposal.
This should be done within 60 days of the completion date.
There is a capital gains calculator here:
Capital Gains Tax,
Which also includes instructions on registering for a capital gains account, to report and paid the tax due.
Thank you. 

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