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Tenants in common and CGT allowance

10/05/2019 13:33:17
My wife and myself own a buy to let property in our own names and as tenants in common.
My wife owns 99% and I own 1%
We are planning to sell the property.
When the property is sold what are our CGT allowances?
Are we both entitled to the full CGT allowance (£12000 each for 2019)
Or are we only entitled to our percentage of ownership - ie wife allowed 99% cgt allowance, myslef 1% cgt allowance?
Regards
John
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Re:Tenants in common and CGT allowance

13/05/2019 07:05:11
Hi,

You are each entitled to the full Capital Gains Annual Exempt Amount on your share of the capital gain.

Your gain will be in proportion to your ownership, but each gain has the full annual exempt amount.
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Re:Tenants in common and CGT allowance

15/05/2019 06:26:51
Thank you for the reply.

John

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