C.G.T. Yet again

[Chippiepat]

Have read most of the posts regard c.g.t. but have not come across my particular dilema,

My partner & I have held a joint mortgage for some 20yrs, on our u.k. house, but,,,only my partners name is on the deeds (we trust each other (I think))When we bought the house in france it was easier to put this in my sole name.The point is, do we own a house each, so that if we were to sell either one we would not be liable for c.g.t. 

[Pickles]

[quote user="Chippiepat"]

My partner & I have held a joint mortgage for some 20yrs, on our u.k. house, but,,,only my partners name is on the deeds (we trust each other (I think))When we bought the house in france it was easier to put this in my sole name.The point is, do we own a house each, so that if we were to sell either one we would not be liable for c.g.t. 

[/quote]

You've not really given enough information - eg whether you are married or have a legal link between you (eg civil partnership), where you are living and working, how long you will have owned/lived in the UK/French house at the time of sale, etc. Eg IIRC, if you have both been living in France more than 5 years and have owned the UK house for 20 years then your CGT liability on the sale of your UK property would be nil in France and x% of 60% of the profit after allowing for indexation up to 1998 and possibly only one set of the annual CGT allowance (£7-8 K) in the UK, x being the highest tax rate to which you are subject in the UK.

Regards

Pickles