Fredddy
-
RE: Rental from second home when separated.
Hi, just for clarification you state that married couples or civil partners who have separated would not be subject to the 50/50 rule. However the later guidance states that "If you own a property jointly with another person who is not your spouse or civil partner your share of the rental profits or losses will usually be based on the share of the property you own, unless you agree a different allocation." So if a property was purchased in joint names prior to separation by a married couple and they then separate the 50/50 rule does not apply but they are jointly liable for income tax based on equal shares which is in fact 50/50 even though one partner gains no revenue from the property? How does the ex partner who gains no revenue (if indeed there is rental income) shield themselves from tax liability if the other partner will not take his name from the title deeds? Thankyou Thanks -
Rental from second home when separated.
Currently separated. First home sold. Own second (rented out) home in equal shares with ex-partner but receive no revenue. Partner is delaying taking my name of title deeds (previously agreed) and will not sign Form 17. How can I protect myself from any income tax liability? Thankyou -
Capital Gain from second home
During marriage spouse sold her second home which was solely in her name. Does her now ex partner have any exposure to Capital Gains Tax if the sale proceeds were paid into his account during the marriage? Thankyou -
Revenue from second home.
After marriage spouse received rental income from second home for a few years. Spouse was sole owner. Income was placed in partners bank account for dual use. Second home was sold. Who is responsible for capital gains tax and personal income tax on the second home ? Assuming it is the spouse, is there any way that the spouse's partner can be pursued for any of the tax liability arising? Cheers