antoeknee1

Hi, So it that a yes or no? Or are you subtly hinting that I should stop trying to find ways to reduce my tax?

Can I share the tax free allowance between a married couple and share profits such that tax payable is reduced Example: Profit from 2nd property sale is £20k Tax relief person 1 = £3k (April 24/25 tax year) Tax relief person 2 = £3k Person 1 higher rate tax Person 2 basic rate tax £20k profit minus £6 tax relief = £14k taxable profit Person 1 declares no profit made Person 2 pays capital gains at lower rate on the £14k. Secondary question: Person 2 buys another property in same tax year and makes another £20k profit and pays capital gains tax on full amount. Their annual wage is still taxed at basic rate so do they still pay CGT at lower rate or do you have to include previous profits as an annual wage thus placing them into the higher rate tax bracket?