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Where Taxpayers and Advisers Meet

CGT or any tax need paying

ex1
Posts:1
Joined:Wed Mar 17, 2021 11:55 am
CGT or any tax need paying

Postby ex1 » Wed Mar 17, 2021 12:02 pm

Hello
A long story cut short. I split with my girlfriend 3 years ago - the house was split and i needed to pay her £110k (mortgage buyout) .She had already moved out and was renting elsewhere at the time. At that time and even to this day is it still required where she needs \ needed to pay some kind of tax? (cgt maybe?) - We are still very much in touch but one of her friends said to her about this cgt business.
thank you

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: CGT or any tax need paying

Postby pawncob » Mon Mar 22, 2021 11:43 am

If it was her PPR then no tax is due for period of occupation, but if there's a gain from the date she moved out to date of sale the gain will be apportioned over total period of ownership.
Probably no tax due if annual allowance is available, but you'll need to do the sums.
With a pinch of salt take what I say, but don't exceed your RDA


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