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advice on UK Personal Tax

We have 2 properties, a house and a flat. My wife has a flat in her maiden name which we were unable to sell due to negative equity when we were looking to buy our main home. We have subsequently bought our main home in our joint married name, approx 2 years ago when we were married. I understand that this house will be regarded as our main home for tax/capital gains as we plan to live here for the foreseeable future. Please could you advise how we should position ourselves with the flat for capital gains tax and anything else that would be applicable and what the implications are etc? We hope to sell the flat in the future if the property market recovers. Due to the amount of negative equity – this may take some time! My wife bought the flat in approx 2007 and lived there for 4 years and it has been rented for the last 2 years. We also have a very young daughter – could we transfer the flat to her name at any point should we wish to sell the flat in the future? UK tax advisor

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