Joint ownership and Capital Gains Tax
Each joint owner is taxed on their own share of the gain, with their own £3,000 exempt amount and their own income tax band.
Updated for the 2026/27 tax year · Reviewed against HMRC guidance
Splitting the gain
Joint tenants are normally treated as 50/50. Tenants in common split according to their beneficial shares, which can be documented in a declaration of trust.
Using a lower-earning spouse
Because transfers between spouses living together are no-gain/no-loss, moving a share to a basic-rate spouse before sale can mean more of the gain is taxed at 18% rather than 24%. The transfer must be genuine and outright.
Separate reporting
Each owner submits their own 60-day UK property return and pays their own liability.
Frequently asked questions
This guide is general information based on the Taxation of Chargeable Gains Act 1992 and HMRC guidance (including HS283). It is not personal tax advice — for complex cases speak to a qualified tax adviser.