How to add spouse to deeds and save on CGT

How to add spouse to deeds and save on CGT

9:26 AM, 9th November 2015, About 7 years ago 1

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conveyancingI have been married to my husband for 25 years but we still have one flat that is only in his name. We now want to sell this flat and take advantage of 2 lots of CGT relief.

Can I be added to the deeds easily so as to avoid him paying a huge CGT bill.

There is no mortgage on the property.

Many thanks



by Neil Patterson

9:31 AM, 9th November 2015, About 7 years ago

Hi Jacquie,

Yes you can using Buy to Let conveyancing and a Declaration of trust before completion.

To do this please see >>

From our Page above:

"It is very common for properties to be owned by just one person, or indeed on a Joint Tenancy basis where the property was purchased by more than one person, e.g. two brothers or a husband and wife. Sometimes this is not tax efficient in terms of splitting sale proceeds or rental profits and often causes issues in divorce too.

Changing the legal title is the best known way to deal with this problem but it is rarely the most efficient, especially if you already have a mortgage in place that you do not wish to disturb, not to mention costs.

A Declaration of Trust enables the ownership of equity and rental profits to be adjusted and legally documented without disturbing the legal title or existing mortgage arrangements. For example, the share of ownership can be adjusted or a spouse can be added. In many cases the cost of such planning is returned many times over in terms of tax savings. That is not always the case though so rest assured we will only accept your instructions if we are confident that our advice will be of real benefit to you."

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