Paul Randall
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Capital gains tax on partnership sale
I subscribed funds into a partnership in which I was due a share of the profits which I paid tax on. These profits were retained and used in the business. The business has now been sold. Can I add the retained income to my cost for CGT purpsoes. Thanks -
RE: Private Residence relief
Just to clarify, me and my ex wife did live in the property together from 2008 until we separated at the end of 2023. My wife then moved out and I stayed in the property. As i have lived in the property since it was purchased do I get relief on the full gain, or just my 50% share. Would capital gain tax be payable on the 50% transferred from my wife, based on the original cost back in 2008. Thanks in advance -
Private Residence relief
I have received my wives share of our matrimonial home under a divorce 11 November 2024 at nil gain no loss when we were not living together. I am looking to sell the property now which has a substantial gain. Will I get private residence relief on the share transferred from my wife even though we were not living together at the time of transfer.