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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 30566
Experience:  International tax
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My father signed his house over to myself and siblings 6 yrs

Customer Question

My father signed his house over to myself and siblings 6 yrs ago. We have now sold it. My wife & I have only ever had joint bank accounts. Can we claim to split the gains and both have a CGT allowance?
JA: When was the property or asset sold?
Customer: Last week.
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: I don’t think so.
Submitted: 11 days ago.
Category: Tax
Expert:  TaxRobin replied 11 days ago.

You and your siblings split the sell but not your spouse. Each of you actual owners has your own cgt allowance. You cannot split with your spouse

Customer: replied 11 days ago.
Thank you
Expert:  TaxRobin replied 11 days ago.

You are welcome