CGT on sale of property following divorce

Hi, I left my matrimonial home on 27th July 2019 and borrowed money to buy another home whilst paying half the mortgage on my matrimonial home. On 10th December 2019 a financial order was ordered at family court and becoming effective at decree absolute on 3rd February 2020. The order stated my ex wife could remain until the school leaving age of our youngest child which is June 2024 therefore leaving me no choice but to pay half of the mortgage until we sell the house this year. I now understand that I have to pay capital gains tax even though I had no choice but to abide by the court order. Is that correct?

Hi Mark Harrison,
As the sale will take place more than 3 years after you have separated, yes a gain may be due, please see here:
Capital Gains Tax: separation and divorce
Thank you. 

Hi thanks for the reply admin. I am confused as the time limit is 3 years or unlimited if part of a formal divorce agreement. The house sale is subject to a financial consent order stating timelines that exceed the 3 years and directed by a Judge. Is a financial consent order a formal divorce order? Thanks in advance

Hi,
Please have a look at the following guidance:
Money and property when you divorce or separate
You would need to seek legal advice as to whether a consent order is the same as a formal divorce order.
Thank you.

You don't need legal advice, you can read TCGA92 S225B, which defines the kind of things that count. Consent orders count, but in particular any agreement counts (para (2)(a)) - the word "formal" does not appear. Obviously it's easier to evidence if you've paid good money to a lawyer to have it signed and witnessed :)