My grey matter is taking over, CGT rules back in the day of taper and indexation relief have escaped me - can anyone help?
Property owned 50/50 between husband and wife
Bought June 1996 for £130,000 + legals (TBC)
Sold December 2006 for £450,000 - legals (TBC)
Used as FHL all the way through (75% of building), but also PPR for H&W (25% of building)
Can anyone point me in the right direction? I'm assuming the 25% "home" qualifies for PPR (they owned no other properties at this time), is letting relief applicable? I'm struggling to work out the taper relief as I simply can't remember how it works anymore (out of sight, out of mind, etc!)
I'd be very grateful if someone could post an answer :)