fas702
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CGT on BTL originally Main Residence and Joint Ownership
Hi, any help would be appreciated in calculating my CGT on selling my BTL property. I bought my house as my main residence for £335,000 . After getting married I changed it to join ownership with my spouse and at the same time changed to BTL, at which time it was worth £550,00. If I sell today the value would be £750,000 . Some questions: 1. Is the acquisition price £335K or £550K ? 2. How do I split the CGT tax allowance between my spouse and myself ? 3. I am a higher rate tax payer and my spouse is a basic rate tax payer - do I just split the profit between us, and pay the CGT percentages, respectively ?