We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Capital gains tax on owned property you don't live in
AnnaNd_2
Posts: 21 Forumite
Hi, I owned a property 50:50 with my ex and he has recently bought me out. I understand I need to pay CGT on my half as I haven't lived there (minus 18 months). But then I thought that perhaps I don't need to pay tax as the property wasn't rented out and it wasn't buy to let, I simply had to move out for personal reasons and rented elsewhere i.e. I haven't owned property for investment purposes or as a second home. Could you please help? Thank you.
0
Comments
-
you are wrong, what makes you liable is it is a tax on a property you own, but do not live in as your main residence.
the real question is - were you married and was the buy out part of a divorce?
if yes there are special rules for CGT in such a circumstance
if on the other hand you were merely "partners" then no, you will have to pay tax depending on your numbers0 -
No we were not married. Okay thanks, I thought I'd check about this.0
-
How long had you owned the house? How long did you actually live in it? How much gain did you make?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards