CGT on house sale

[Rocksounds]

I wonder if anyone can help on a CGT query. I has divorced 18 years ago and as my two children continued to live with me I was allowed to stay in the marital home until the youngest reached 18. I continued to pay the mortgage (now completed) and as both children have now left home my ex-wife wants the property sold. The value of the house is £ 200,00, and the proceeds will have to be split 50/50, as per the court agreement. My share of the sale will not be enough to buy another property, and as i am now a pensioner a mortgage will be out of the question. I will have no option other to rent in the private sector. I suppose my question is simply will i have to pay CGT on my share of the sale, the house was originally purchased 30 years ago for £60,000.
I would be grateful if anyone could give me advice, many thanks.

[Jholm]

Based on the info provided, there will be a chargeable gain. However, it sounds like all would be covered by PPR (Principle private residence) relief.

To check this, you need to provide a timeline of occupancy from acquisition through to sale. The relief is the chargeable gain multiplied by (years occupied / years owned).

If it's any kind of consolation, you ex-wife will most likely not get this relief in its' fullness since she has not lived in the property throughout.