I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Given that my income is around 12k and my wifes a lot less. The house value around 200k. 100k gift 100k sale. Is our income for 2014 an additional 100k or 200k to determine the CGT rate (18% or 28%). I am not looking for you to do the actual sums just point me in the right direction so that I get an idea of what we are letting ourselves in for. Very impressed so far, thanks.
Does the "cash" part of the sale (as against the gift) count as income for the year, thus puting me in the 28% bracket?
I am realy most happy with the service but this was another of those 4 am
Regards, Peter Gale