davos856942

Thanks for your reply. My understanding is that section 225B of the Taxation of Chargeable Gains Act should apply to me, as updated last year. Does your response take account of this? Specifically, it states that "if conditions A to C are met, sections 222 to 224 shall apply as if the dwelling-house or part continued to be the individual’s only or main residence until the disposal." Conditions A to C should apply to me and therefore no capital gains tax should be payable. This was introduced due to the unfairness of the previous situation in which the person who moves out of the marital home might need to pay capital gains tax whereas the ex-partner would not. Please can you let me know if my understanding of any of this is incorrect? I think my only query would then be about clause 5 in section 225B: "Section 223 (as applied by this section) shall apply only on the making of a claim by the individual." i.e. do I need to specifically make a claim in some way and how would I go about doing that?

I moved out of the marital home in July 2022 and have been living in a rented property since then, while my ex-partner has remained in the marital home. We do not own any other properties. We are finalising a separation agreement and will soon be selling the marital home. It's my understanding that I shouldn't be liable for capital gains tax in this scenario, provided that the marital home is nominated as my main residence. Please could you confirm that my understanding here is correct? Do I need to explicitly make a main residence nomination in some way (and is this required if I'm currently renting and own no other properties)? I don't submit self-assessment tax returns. Thank you.