Hi
I am about to sell my property under the following circumstances
I have a property that is in my sole name, but that I have not lived in for over 3 years following a seperation
My wife and children have remained in the property all this time
I am currently going through a divorce and this may complete before the property sells
I have verbally agreed to give my wife / ex wife 60% of the money from sale (this is not in writing)
I intend to use my 40% towards a new property of my own after the sale
If the house was bought for 165 and sells for 215 and I take 40% of the profit (20K) and transfer the rest to my wife / ex wife whats my CGT situation?
Does it make a difference if the divorce is finalised or Im still married?
Does it make a difference if I sell chain free and then buy chain free after the sale or dont do this and transfer the sale money direct into new home?
Do I need to get something in writing regarding the 60% I give my wife to ensuer I dont get taxed on that too?
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