Capital Gains Tax

[Tobleroneswillbemyundoing]

I realise I probably need actual financial advice on this, but I'm sure someone has some useful insight on how to start!
Before we married, my (now) late MIL gifted my husband a property. Throughout our marriage this has been a rental property, always in DH's name alone.
The long term tenant has now left and, with the recent changes in the law for landlords(& the state the house has been left in ☹️), we are considering selling. Obviously this will make DH liable for Capital Gains Tax.
Does anyone know if we would reduce our Capital Gains Tax bill by putting the property in both our names?

Possibly. But consider what tax you could be saving, there’s your annual allowance of £3,000 and whatever difference between your marginal rate & your husband’s, so there might not be as much saving there as you think. Rates of cgt on residential are 18% and 24%. Know too that there’s a 60 day cgt return required too.

You also have to ask for the legal fees involved in changing ownership and whether the expenses whilst in his name can be used in your calculation too - you each will have a CGT declaration too to HMRC and if you need professional input that’s potentially two fees for that rather than one for him alone. As already said you might not save that much but will be dependent on the figures and your existing incomes. The CGT exemption is so low now, would have been different when it was just over £12k

Depends whether either of you have basic rate tax and available - any gain that falls within the basic rate saves 6% on the gain that falls into the higher rate.

The extra £3k allowance saves a maximum of £720 for a higher rate taxpayer.