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HMRC internal manual

Capital Gains Manual

Land: disposal by joint tenants

Where land held by joint tenants is disposed of, each tenant is entitled to an equal share of the net sale proceeds. This rule applies even if the joint tenants have not contributed equally to the cost of acquiring the land. The chargeable gain, or allowable loss, arising on the disposal should be computed on this basis.

However, if the joint tenants divide the proceeds in accordance with their contributions to the cost of the land, that division should be accepted for Capital Gains Tax purposes, provided that all the joint tenants signify their agreement in writing.