Why is this nill instead of actual proceeds?

topcat

i thought it would be nill if they were married / civil partnership does living together also class as no gain /loss? :S



thanks

MarieNoelle

I would have chosen deemed proceeds (it's a gift so no money was actually received). You are right, living together doesn't imply they are married.

coojee

Since it's an engagement ring there's no way they could be married

topcat

coojee wrote: »

Since it's an engagement ring there's no way they could be married

haha good detective work , i missed the obvious there

topcat

MarieNoelle wrote: »

I would have chosen deemed proceeds (it's a gift so no money was actually received). You are right, living together doesn't imply they are married.

Thanks Marie, is deemed only used for connected people though? How would they be connected thanks

MarieNoelle

No, it's deemed proceeds because no money was actually exchanged.