Can ex rent out our jointly owned property without my permission

lonestar1

AdrianC wrote: »

But, of course, if that is the case, then there'll be equity in the place in excess of the tax due.

In addition, each person's CGT allowance is ~£30k/year. ...

Your numbers are out by a lot

AdrianC

lonestar1 wrote: »

Your numbers are out by a lot

I'm happy to be corrected. It shouldn't be hard to be more au fait with CGT than I am.

G_M

AdrianC wrote: »

I'm happy to be corrected. It shouldn't be hard to be more au fait with CGT than I am.

If you're going to give advice to people, with figures, best to know the figures! Not hard to check with google!

https://www.gov.uk/capital-gains-tax

£11,000 per person this year.

cte1111

AdrianC wrote: »

But, of course, if that is the case, then there'll be equity in the place in excess of the tax due.

In addition, each person's CGT allowance is ~£30k/year. So, ignoring any other gains they might have made (negligible, by the sound), they'd need the property to have increased in value by two people x seven years x £30k = £420,000 or more for either to have any CGT liability... If it's gone up half a million, then there's 18% of £80k to be paid between the two, so each person would need to pay £7,200 out of their quarter of a million likely equity, more if it was a repayment mortgage or there'd been a deposit...

Not sure where you get your 'facts' on CGT from.

When this house sells, as it has previously been the OP and her ex's home at one point, they are entitled to Private Residence Relief for the period that they lived there, plus the last 18 months of ownership. They will also be entitled to Letting Relief, for the period that it was let. Here's the relevant helpsheet:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323679/hs283.pdf

Capital Gains Allowance is not accruable, e.g. you can't add on any unused CGT allowance from previous years. The CGT allowance in the current tax year is £11,000. In this example, each of the owners of the house will have their own CGT allowance (as long as they haven't made any other capital gains in the tax year).

AdrianC

Apologies for my miserable and confusing brainfart. I'd picked up on the annual higher-band threshold instead of the allowance figure.

Dr._Shoe

I would pose as a prospective tenant and find out how much they were expecting to charge as rent. Then I'd ring back a few days later to find out how much their fees for renting out a property on your behalf are then go after the ex for half the difference in income and mortgage payments going back the 6 years or so. I'm guessing he won't have it so then initiate small claims action but offer to cancel it if he agrees to sell the house and allow you to take the first steps towards selling it (i.e getting a [different] estate agent to list it). I would probably do this anyway, telling them the same lies he told about being sole owner.

laurajinx

Dr._Shoe wrote: »

I would pose as a prospective tenant and find out how much they were expecting to charge as rent. Then I'd ring back a few days later to find out how much their fees for renting out a property on your behalf are then go after the ex for half the difference in income and mortgage payments going back the 6 years or so. I'm guessing he won't have it so then initiate small claims action but offer to cancel it if he agrees to sell the house and allow you to take the first steps towards selling it (i.e getting a [different] estate agent to list it). I would probably do this anyway, telling them the same lies he told about being sole owner.

Thats a brilliant idea, and definitely what I'll be doing. Thank you for this..... Best advice I've been given!!! Thank you.