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Where Taxpayers and Advisers Meet

Asset in financial settlement

Flowerloom
Posts:1
Joined:Thu Mar 09, 2017 3:24 pm
Asset in financial settlement

Postby Flowerloom » Thu Mar 09, 2017 3:27 pm

Good Afternoon, My partner left 18 months ago and we have "agreed" on a financial settlement whereby I have to sign over to him a rental property we had. He says I should sign over as I have been holding it "in trust" for him. The property has approx. £145k equity. If I do sign it over as part of the agreement....

1. Will I pay any capital gains tax

2. Should it be as "I held in trust for him"

a point in the right direction would be helpful as my solicitor and accountant are not sure.

Thank you. K

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Asset in financial settlement

Postby maths » Fri Mar 10, 2017 9:32 pm

Were you married or in a civil partnership?

Who is on the title to the property; what is the ownership % split; is there a mortgage on it.


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