Eric Miller
Joined: 8/20/2024
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RE: CGT calculation gifted property sold
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CGT calculation gifted property sold
My wife was gifted a property by her parents on a 50% share with her sister in 2003. Market value at that time approx £150K. The house was sold when the mother was left on her own in 2016 for £185K. At the same time a new property was purchased in the name of my wife for £174K. The mother has now left the property and my wife has sold the property for £257K. Profit to share with sister. Is CGT only calculated over the last property or do we need to go back to 2003? Thanks for your advise. Eric