EXCHANGE OF JOINT PROPERTY INTERESTS
My client (Peter) and his brother (Fred) jointly own two rental properties but now wish to rearrange their holdings so that they each own a property. Property A has a market value of £250,000 and has a base cost of £90,000 and Property B has a market value of £230,000 and has a base cost of £40,000. It is intended that Peter will take Property A and Fred will take Property B. We want to know if there are any Capital Gains Tax (“CGT”) reliefs they can claim?
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