Banking Indexation Allowance through inter-spouse transfers - Part 2

Posted by AccountingWEB PM | on Sun, 25/11/2007 - 23:03 7949 2 comments

Last week capital taxes expert, Matthew Hutton considered whether it was possible to for spouses “to bank” their indexation allowances in the run up to capital gains tax (CGT) reform on 6th April 2008. He concluded that it might only be possible to do so for assets initially purchased after 31st March 1982.

Continued...

Update to the above

Anonymous | Mon, 25/02/2008 - 12:17 | Permalink

"Part 3" of this saga updates the situation; it will be possible to bank indexation also for assets held at March '82.

Subsequent transfer into joint names

john heath | Mon, 04/02/2008 - 10:09 | Permalink

Would the uprated base cost achieved be prejudiced by any subsequent transfer into joint names wher the initial transfer was from one spouse to the other? A decent interval may be assumed between the initial transfer and the transfer into joint names!