SDUTY ON REMORTGAGE AND DIVORCE

[MATTHEW/KATIE]

hello

i have just found a property to buy and we have not yet divorced, thought leave for two years, so was planned to do it Feb 11.

So just started to organise remortgage of joint owned home for ex, our joint current mortagage is 130k which will be paid off by remortage as i am porting that one to my new home...the maritial home property value is 450k with remortgage planned at 75 % so 337.5k which means a cash amount to me of 337.5 - 130k of 207.5k in balance.

We have now been advised by solicitor that they think the tranfer is subject to stamp duty but not sure how much? Hmm !We thought that as part of divorce it was exempt fromn all tax, personal to me on the 207.5k CGT too as well as Stamp duty on tranfer to him of house?

i am tranfering to him a 30% share in ltd company, that i also work for as company sec, but no need to have rights to any divs as he will pay maintenance instead which is preferential and more beneficial for me...doen this for last year already. Are we misssing more liabilities on the tax at all? is the transfer of 30 % business exempt?

I am getting worried we were given bad advice by local accounts firm last year....

Lastly do we have to divorce / tie this up in consent agreement now or if we leave until feb 11 is it retrospecive of what we do this minute....need to do that of course to sort pensions.

M

[section 44]

Re-read your post and clarify what has happened and what is now proposed. You may be familiar with all of this and shorthand may be sufficient for you but, I suspect, I am not alone in not being familiar with the detail.