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Posted Wed, 24 Apr 2024 09:17:32 GMT by lupuccho
I own a residential house with a friend as a joint owner. Now he is married and he wants to buy out my equity from the house. We own a joint mortgage together. After the transfer of equity he will own the property and a mortgage as a joint owner with his wife. We have agreed price for my equity. I want to know if I have to pay a CGT on the money I receive.
Posted Tue, 30 Apr 2024 14:57:50 GMT by HMRC Admin 5 Response
Hi 

if you have never lived in the property, yes - Capital Gains Tax: what you pay it on, rates and allowances

Thank you

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