CGT - Locking in Property Valuation

[Genesis Man]

Hi,

I have recently got married and both myself and my wife have had our own properties for some time. We are deciding wether to sell or rent out one of the properties. The house we wish to rent out has decent capital gain and as it was my primary residence, the gain is not subject to cgt, but this will all change 1 year after I change my primary residence.

What I would like to know, can I 'lock in' that gain for the period that it was my primary residence and have the future cgt tax calculated against this 2007 valuation rather than the purchase price valuation.

All suggestions welcome and thank you in advance

 

[ubiquitous]

What I would like to know, can I 'lock in' that gain for the period that it was my primary residence and have the future cgt tax calculated against this 2007 valuation rather than the purchase price valuation.

No, unfortunately

 

[Nige]

In short, no.

PPR relief is calculated on time basis.

A transfer to a spouse (for money or otherwise) is exempt from CGT so selling to your wife isn't an option (and even if it were, you'd be incurring stamp duty costs).