I'm a higher-rate taxpayer selling a jointly owned investment property with my spouse. What strategies, like transferring ownership or using both annual allowances, can we use to legally minimise our combined Capital Gains Tax?
Quick Answer
Higher-rate taxpayers selling a jointly owned investment property can minimise Capital Gains Tax by effectively using both spouses' annual exempt amounts (£3,000 each) and strategically transferring ownership pre-sale to utilise a spouse's lower income tax band for CGT purposes.
About This Topic
Minimise Capital Gains Tax on UK investment property sales using spousal transfers and annual allowances. For higher-rate taxpayers, strategic planning can significantly reduce the 24% CGT rate. Learn how to optimise your tax position.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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