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Where Taxpayers and Advisers Meet

CGT property transfer, buy out

MaggieD
Posts:2
Joined:Tue Jul 25, 2017 4:28 pm
CGT property transfer, buy out

Postby MaggieD » Tue Jul 25, 2017 4:31 pm

Hello,

I recently made a claim for a percentage of my jointly owned home. My ex partner (not married) is paying me 71K and £38K in four years when the house will be sold.
How much capital gains tax will I have to pay?
Details:
Property purchased for £74955 in 1996 and is now valued at £350K.

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: CGT property transfer, buy out

Postby bd6759 » Wed Jul 26, 2017 10:48 am

If you have lived in the house since 1996, there will be no CGT to pay.

MaggieD
Posts:2
Joined:Tue Jul 25, 2017 4:28 pm

Re: CGT property transfer, buy out

Postby MaggieD » Thu Jul 27, 2017 9:37 am

Haven't lived there since 2001


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