New queries, issue 4540

Offsetting losses

How can a couple offset their losses on a capital gain on selling a holiday let?

My clients are a husband and wife who have recently sold a property used for furnished holiday lettings. They made a net gain of £40 000 (£20 000 each) after deducting costs and allowances.

To reduce this taxable gain they plan to sell some shares that are standing at a loss. At present these shares are in the husband’s name so they will need to transfer some of them to the wife and then each sell enough to offset the gain.

However these shares were all acquired at different times over ten years through the husband’s company shares as part of his remuneration package.

My question is about the value of the shares when transferred to the wife. If it is the pooled value I believe that would...