Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
The disposal of this property would attract Entrepreneur's Relief (ER) which would reduce your Capital Gains Tax (CGT) to a flat rate 10%. As this is jointly owned with your husband the gain would be half each and you both have an Annual Exempt Amount (AEA) of 12.3K to offset gains. ,
You each claim ER from your share of the gain.
Delighted to have been of assistance.