michael0791

I will consult an advisor for the precise details, but while there is still the possibility of annual exemption, I am trying to make a rough estimate of likely CGT. I have three questions please. My wife bought the property in 2000. She gifted me half a few years later. When it comes to working out our gains: - does she take into account 100% of her 2000 acquisition costs (or only 50%)? - is her base cost for her remaining 50%, 100% of her 2000 purchase price, or only 50% of that price? - i always thought that my base cost would be 50% of the value of the property as at the time she gifted it to me, but I read tonight that my base cost would be her 2000 purchase price - which is correct? thank you for any answers.