Capital Gains Tax

[nobfelt2]

If I change the deeds on a property I rent out to include my Fianc�e's name (joint owneship), will either of us need to pay CGT? If so, how is this calculated?

[kags]

You will be deemed to be giving away half of your interest at Market Value, and therefore a Capital Gain will arise for you. Your fiancee would be deemed to acquire her half share at the market value. Depending on the increase in value, the reliefs available, and the availability of the annual Capital Gains Tax exemption, this may or may not give rise to a tax liablilty.
If you wait until you are married, you can give her half the property with no Capital Gains Tax implications.

[nobfelt2]

thanks again kags

I had a rough idea that this was the answer to my question, I was just looking at it from the wrong point of view.

I thought that my fiancee would have the capital gain.
Having thought about it now, your words make more sence to me.

Looks like marrying for tax relief is the way to go!

Thanks

Steve