Thank you for your patience
You said the property was valued at £120,000 when you transferred your 30% share in the property to your husband. This valuation has no bearing on capital gains tax calculation as actual values are used when calculating the gain on sale of property.
Here are my calculations
Sale of property
Agents fees, solicitors fee and other costs - say
Total cost price
Gain on sale
Gain chargable to CGT
Share of gain - husband - 60%
Gain subject to CGT
CGT at 18%, 28% or a combination of both
Maximum CGT at 28%
Share of gain - children (held in trust) - 40%
Gains allowance - trust
CGT at 28%
Maximum CGT payable
More information on Trust and capital gains tax can be found here
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.
Share of gain - husband and wife - 60%
Gains allowance 11,000 x 2