CJ1971 Wall
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How To Get HMRC Not to Charge CGT on Sale of Property Subject to Consent Order
I urgently need advice about how to contact HMRC and ask them not to charge CGT to my ex-husband who has disposed of a property where I am the beneficial owner as per the terms of our divorce. The property was in his name and I lived in it as per the agreement of our divorce Consent Order. I have received all proceeds from the sale of the property but unless we inform HMRC and get their agreement that CGT is not due, my ex will need to pay this in the next couple of days. I received a reply on this forum that as I am the beneficial owner no CGT is due - what is the process for reporting the sale and getting the agreement that CGT is not payable? How do we report the sale and get the agreement that CGT is not payable? -
RE: Capital Gains Relating to Divorce
Thank you for your response. So, as the property was in my ex-husbands name how do I claim the Private Residence Relief and ensure he does not have to pay the CGT as the property was in his name at the time of disposal? Many thanks! -
Capital Gains Relating to Divorce
My ex-husband and I divorced in 2013. A condition of our financial Consent Order was that he would purchase a property for me to live in, in his name and that I would be able to buy the property from him at the price originally paid, or be the sole beneficiary of any proceeds if the property was sold to a 3rd party. He bought the property with a buy-to-let mortgage and I paid the mortgage directly to his bank account. I lived in the property all the time from the date of purchase, spent money on improvements and only moved out recently when he sold it and handed me all the proceeds. Will any capital gains tax be payable by him? -
RE: Capital gains Tax after divorce
My ex husband and I divorced in 2013 and a Consent Order was signed in that year. In the Consent Order it stated that my ex had purchased a property in his name that I would live in it. In the Consent Order it is referred to as the "Investment Property" and he used a Buy To Let mortgage to finance it. I was to purchase the property from him when I could get a mortgage of my own or he would sell the property and pass over 100% of the proceeds to me. I have paid the mortgage to his personal account this entire time and it has been my main residence since the divorce. My question is if he sells the property now, will he have to pay CGT on the proceeds?