Why is this nill instead of actual proceeds?

topcat
topcat Trusted RegularRegistered Posts: 452
i thought it would be nill if they were married / civil partnership does living together also class as no gain /loss? :S

kmilE.jpg

thanks

Comments

  • MarieNoelle
    MarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,433
    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
    coojee Experienced Mentor Registered Posts: 794
    Since it's an engagement ring there's no way they could be married
  • topcat
    topcat Trusted Regular Registered Posts: 452
    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
    topcat Trusted Regular Registered Posts: 452
    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
    MarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,433
    No, it's deemed proceeds because no money was actually exchanged.
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