Intra-family property transfersJanuary 24, 2011 When you acquire a property from your spouse, or civil partner, in the year you are living with them, you take on the cost of the property as it was when your spouse acquired it. This means your spouse makes no gain or loss on the disposal to you, but when you sell the property you are taxed on the full gain made over your combined periods of ownership. Please talk to us before giving away properties, or shares in a property to family members. No gain no loss transfers |
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