Writing in The Telegraph, BKL private client partner Geraint Jones helps to answer the question: ‘We own two properties jointly. How can we minimise tax if one of us wants to sell?’
Geraint Jones, principal at taxation consultancy BKL Tax, said there is however a limited form of roll over relief available in these circumstances where the two brothers can effectively swap their joint holdings so that each holds one property completely. Assuming the property shares being swapped are of equal value no capital gain arises. If the properties’ shares are of unequal value a partial relief is available.