Have Tax Questions? Ask a Tax Expert for Answers ASAP
The only way to do this would be to transfer half the ownership to your wife and split the CGT. HmrC would even advise that tax avoidance.
You owned the flat for 19 years and occupied for 6.5 years, for the last 18 month of ownership,9 from April) you are deemed to be in occupation even if this is not the case. Thus only say66% of any gain made is exposed to CGT at 18% or 20% or a combination of the two rates depending you the imdividuals' income including the gain in the tax year of disposal. Both of you have a non cumulative Annual Exempt Amount (AEA) to offset gains.
Not unless her name was on the deeds also.
Sorry not to be able to be mpre helpful.
Please be so kind as to rate me before you leave the Just Answer site.
Thank you for your support.