{"id":632,"date":"2019-01-07T00:00:00","date_gmt":"2019-01-07T00:00:00","guid":{"rendered":"http:\/\/taxbak.co.uk\/index.php\/2019\/01\/07\/cgt-planning-for-married-couples\/"},"modified":"2019-01-07T00:00:00","modified_gmt":"2019-01-07T00:00:00","slug":"cgt-planning-for-married-couples","status":"publish","type":"post","link":"http:\/\/taxbak.co.uk\/index.php\/2019\/01\/07\/cgt-planning-for-married-couples\/","title":{"rendered":"CGT planning for married couples"},"content":{"rendered":"<p>This article is also relevant to couples who have entered into a civil partnership.<\/p>\n<p>For the tax year 2018-19, taxpayers can make tax-free capital gains of up to &pound;11,700.<\/p>\n<p>This allowance is available on a per person basis and so married couples (and those in a civil partnership) have a combined CGT allowance of &pound;23,400.<\/p>\n<p>Consider married couple John and Joy. Joy wants to dispose of a block of shares before 6 April 2019, but this will create a taxable gain of &pound;22,000. After her CGT allowance is deducted this will create a CGT bill of &pound;2,060 &ndash; Joy is a higher rate taxpayer and so she would pay CGT at 20%.<\/p>\n<p>John is retired and has relatively little income for 2018-19 and no capital gains. It is quite legitimate for Joy to gift 50% of her shares to John before they are sold &ndash; gifts between spouses and civil partners are free of CGT. Each party would then sell their half-shares and chargeable gains of &pound;11,000 each would be covered by their &pound;11,700 allowance. Hey presto, no CGT to pay.<\/p>\n<p>John and Joy decide to use the tax saved to fund a well earned winter break abroad. Not a bad outcome and an entirely acceptable tax planning ploy.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>This article is also relevant to couples who have entered into a civil partnership. For the tax year 2018-19, taxpayers can make tax-free capital gains of up to &pound;11,700. This allowance is available on a per person basis and so married couples (and those in a civil partnership) have a combined CGT allowance of &pound;23,400. [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-632","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-left-layout","blog-style-postblock","","blog-alt-odd"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=632"}],"version-history":[{"count":0,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/632\/revisions"}],"wp:attachment":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=632"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}