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Where Taxpayers and Advisers Meet

Divorce after sold second property - is cgt still payable

Tingly
Posts:34
Joined:Fri Mar 17, 2017 12:12 am
Divorce after sold second property - is cgt still payable

Postby Tingly » Mon May 29, 2017 7:59 pm

Good evening

If Live in a property with my husband
I am in the process of selling my second home which was my family home and in my name
I am liable to cgt on this and it will be payable as i understand in Jan 19 , as the sale will occur in the april17/18 tax year

My question is, if I get divorced during this time will i still have to pay the cgt?
The reason i ask is if i simply kept hold of this home as part of a matrimonial split their would be no cgt to pay.

Any advice gratefully received
Thankyou

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: Divorce after sold second property - is cgt still payable

Postby Lee Young » Tue May 30, 2017 10:23 am

The CGT rules will apply to this disposal in the usual way; your divorce does not change that
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701

Tingly
Posts:34
Joined:Fri Mar 17, 2017 12:12 am

Re: Divorce after sold second property - is cgt still payable

Postby Tingly » Tue May 30, 2017 9:02 pm

Thankyou for the response
In my mind i was thinking that if i divorced while i still owned it i could move in cgt free so therefore maybe they would let me off paying it if i sold it and bought a new home for myself after the divorce as it amounts to the same thing!

Thanks for the advice though- wishfull thinking by me!!


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