Selling Partners RIP

[351suzanne]

Hi

We have decided to sell partners RIP-Its in his name as a buy to let.
Few questions, Can we include stamp duty as part of the costs, Will the fact that we are umarried and that it is not in both our names affect the tax relief and so increase the tax liability.

Appreciate a response. All new to us .

 

[Butter]

As far as I know you can include stamp duty as a cost when calculating your capital gains tax. As you're not married your partner will only have €1270 (instead of €1270 x 2) as an allowance against capital gains tax.

 

[ClubMan]

SD can be set against capital gains as an allowable cost when calculating CGT.

Even married couples cannot transfer the individual CGT allowance of €1,270 as used to be the case. To use both the asset must be held in joint names.