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Where Taxpayers and Advisers Meet

Tax on a Overage Agreement Question

paulwallace
Posts:1
Joined:Sat Apr 01, 2017 9:19 pm
Tax on a Overage Agreement Question

Postby paulwallace » Sat Apr 01, 2017 9:35 pm

Hi,

I was wondering if you can help. my wife has an overage agreement and she has just accepted a deal to get £57,000 because the and has just been sold to an developer. The amount has be split in halve, 1st Payment before the 5th April and the rest will be paid in Jan 2018. I have this payment confirmed in writing currently.

We would like to know what CGT tax should would pay or does this get treated has extra income tax? Also we would like to know if it is possible to transfer half to me. spread the tax bill between us.

Hope you can help and look forward to hearing from you.

Kind Regards

Paul

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