Utilising Spouse’s Or Civil Partner’s Annual CGT Exemption By - TopicsExpress



          

Utilising Spouse’s Or Civil Partner’s Annual CGT Exemption By transferring assets into joint names prior to sale, you can utilise your spouse’s or civil partner’s annual capital gains tax exemption as well as your own if he or she has not used it. For 2013/14 the annual exemption is £10,900 which means that a couple can make gains of £21,800 before paying any capital gains tax. Transfers between spouses and civil partners are treated as a no gain/loss transaction and hence, the spouse/civil partner, steps into the shoes of the other holder, taking over their base cost and length of ownership. This can be especially useful when selling investment properties, although stamp duty land tax considerations need to be taken into account.
Posted on: Fri, 05 Jul 2013 09:26:25 +0000

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