Realising a capital gain before April 08
Discussion
I have a few old assets that I can't easily sell before April(property with tenants under contract), does anyone have any (educated) advice on whether I can realise the capital gains before taper relief is abolished? I don't fancy paying tax on inflation disguised as profit.
Would it be possible to sell to my wife? Maybe set up a partnership and sell to that? There must be some way of effectively selling to myself and creating a new, current value before indexation/taper relief is abolished. I suppose there will be stamp duty to pay, but that will be a lot cheaper than paying 18% on 15 years of property appreciation.
Would it be possible to sell to my wife? Maybe set up a partnership and sell to that? There must be some way of effectively selling to myself and creating a new, current value before indexation/taper relief is abolished. I suppose there will be stamp duty to pay, but that will be a lot cheaper than paying 18% on 15 years of property appreciation.
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