Ian Gray

Thanks for the response. May i just clarify - in the example i gave above, assuming both sold in same tax year, there would be a net profit of £20k (£50k profit on property less £30k loss on shares ), so does that mean the tax rate applied would be the property rate of 18% (24% higher) on that £20k? Thanks

My wife inherited shares from a deceased uncle. Three questions arise: 1.If now opting to sell any of these holdings, is the gain (or loss) treated as from value at date of death or date of granting of probate? 2. My wife and I also own a rental property, which we plan on selling this year. What is the relationship between the loss on sale of some shares, and the gain in value of the property? Can such a loss be offset against the gain? The loss on one particular share holding is some £30k (depending on answer to Q1) and the gain on the property is probably £50k. 3. If the answer to Q2 is 'yes', how is the CGT liability calculated, given the rates on shares and property respectively are different? (NB. I am aware of benefit of transferring some shares to me prior to sale, and thus each claiming the personal allownace of £3k) Thanks