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Efskeff

Efskeff

Joined: 9/20/2024

  • Tax on dividing ownership

    Fri, 20 Sep 2024 10:37:13 GMT – Tax on dividing ownership
    Hi, I bought a flat in the UK in 2006. In 2024, I am dividing ownership of the flat three ways, gifting one third each to two of my daughters, and retaining one third myself. I consider that I am disposing by gift of two-thirds of the asset. Do I do the usual CGT calculation, and report two thirds of the gain and two thirds of the costs?