SS7
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RE: CGT on Shared Ownership of Property
Thanks for the reply, yes we had a court order agreement but after the property was sold which stated this split as money from the sale was held with a solicitor. If it's the case that there are 2 calculations for either of us to pay based on the shares, will my expenses be used towards my CGT calculation and my ex-partners towards theirs? My initial costs to buy the land and start building were a lot more as I'd used money from a previous house sale to get the build started. -
RE: CGT on Shared Ownership of Property
the property was owned 50;50 on land registry but when we got divorced we agreed that I would have 60% and her 40% of the remaining profits as part of our divorce settlement. The agreement stated that all bills should have been paid before the spilt but we didn't know we had to pay capital gains tax at the time. Now the money has been split and we have had a bill from HMRC as we did not live in the property to qualify for private residence relief my ex-partner is trying to say I should be paying 60% of the tax bill not 50%. Do you have any information to help on my situation please? Thank you -
CGT on Shared Ownership of Property
My partner and I owned a property which was sold. How is capital gains tax calculated when it was not owned jointly e.g I owned 60% because I paid 60% of the deposit when we purchased it and she paid 40% of the initial deposit.