From: Richard Faulkner 
Newsgroups: uk.finance
Subject: Capital Gains - exchanged contracts May, getting married in August
Date: Wed, 3 Aug 2005 22:15:54 +0100

Hi,

Myself and a friend own a house which we are selling.

Exchange of contracts took place in May, and completion is due 8 August.

My friend is getting married on 20 August.

He has asked if myself and the buyer would mind delaying completion 
until 22 August so that he can use his new wifes CGT allowance against 
the proceeds of the sale.

I have suggested that, AFAIK, the relevant date for Capital Gains Tax is 
exchange of contracts, thus changing the completion date will have no 
effect on the tax due. I'm pretty sure that I am right about this.

However, I am wondering if, even though the "sale" took place in May, 
does the fact that he is married at the end of the tax year, (April 06), 
mean that his wifes' allowance can be used on Capital Gains which have 
arisen during the whole year, and not merely since the date they 
married.

Any help appreciated

Regds

-- 
Richard Faulkner