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So say we sold the flat for 80'000 we each would then declare 40'000 which is below the threshold for capital tax gains so we would not need to fill in the capital gains part of the tex return.
Sorry still don't quite understand. We sold the property for 83'000 and after deductions the net gain is 48'535. So I would have to split the 83'000 as 41'500 each and proceed.