Transferring property to my wife - CGT and Stamp Duty

sparky130a

Victor_the_Gink wrote: »

Why???????

Look at the post.

Now look again.

If i have to explain after that.. Well there's no point.

AdrianC

sparky130a wrote: »

Look at the post.

Now look again.

If i have to explain after that.. Well there's no point.

You're going to need to explain to me, too.

Maybe you mis-read it?

They bought the house together in 1984, 33 years ago. They separated in 1990, 27 years ago. Kate0502 has paid for the property ever since. She's now looking to move, and her long-since-ex has just acknowledged that he has no claim over it, rescinding his part ownership...

Victor_the_Gink

sparky130a wrote: »

Look at the post.

Now look again.

If i have to explain after that.. Well there's no point.

Nope, still don't get it.


Do you think she should get a CGT liability because she's downsizing? Or because you don't approve of their informal arrangement?


Or are you just trying to get another permanent ban, marksoton? I noticed you were absent for 2 weeks, presume that was your yellow card?

00ec25

Kate0502 wrote: »

Hello, I have a semi-similar question.

I brought a house with my partner in 1984. We separated in 1990. I stayed in the house with our children. Over time I have paid my ex-partner through installments for his share in the house.

I now wish to move to a smaller house. My ex-partner will “gift” me his share of the house.

My question is, will I now have to pay capital gains tax.

Grateful for any help.
Thanks

you are not liable for CGT as it has remained your main residence for the whole time you have owned it

your ex partner may have a CGT liability, however, his exact liability and the date from which it applies, will depend on 2 things:
a) was there a mesher order made in respect of the children as part of your divorce? and/or
b) what was the date of the court order? (or decree absolute - if that was first)