Just to check my thoughts on a CGT question.
Two couples want to share a house together. Presumably this must be as tenants in common, so 4 adults have (say) 25% share each.
If all 4 adults live there, when they sell the house they will EACH get PPR on their share.
If the 4 adults own the house with 25% shares but only one couple actually live there, only the couple who actually live there will get PPR.
Have I forgotten anything?
Thank you for all assistance.
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yes you have forgotten a few things
1) if all four want to claim ppr make sure they make an eleection each and submit the election- to have the property as their main residence, within 2 years of moving in-then later it ont be a question of events/where they live but of fact
the eventuality of splitting up
as there are 2 couples consider the tax consequences of one partner selling thir share to the other.
