House sale and capital gains following divorce

Specialk321

Hi

I hope someone can advise. I split from my husband just over 7 yrs ago leaving him in the family home. It had taken till now to get him to sell. We originally agreed based on the value of the house and minus shared debts that on sale of the house I would receive 15k the house is now being sold for 22k more than we originally thought however am still only getting 15k. The remaining mortgage is 35k. My concern is that as I have not lived there all this time that they will take capital gains tax off me. I don't own another home so technically it is still classed as my main residence and it is my divorce settlement. The figures are below can anyone help.

House purchases 2000 for £42k
Left marital home 2012
House sold now for £122k
My share 15k
Partners share £107 minus mortgage £72

It sucks that I am getting less out of this but I just want it all over with but really need the full £15k so that I can hopefully get back on the property market.

Thanks in advance

foxy-stoat

Who are "they" and why would they take capital gains tax off the sale of your previous home?

If the numbers were stated in your divorce settlement then maybe a call to your solicitor to clarify if you are entitled to any more money, but I would assume that you haven't contributed to the mortgage at all in the last 7 years....if the house sold for less than £100,000 due to house prices taking a drop I would of thought you would of still got your agreed £15,000.

p00hsticks

Specialk321 wrote: »

I don't own another home so technically it is still classed as my main residence

If you're not living in it, it's not classed as your main residence for CGT purposes, regardless of whether or not you own or rent the property you ARE living in.

00ec25

were you legally married to husband?
do you have a financial settlement supported by a court order as part of the (legal) divorce/


yes? then read this
https://www.gov.uk/government/publications/husband-and-wife-civil-partners-divorce-dissolution-and-separation-hs281-self-assessment-helpsheet/hs281-spouses-civil-partners-divorce-dissolution-and-separation-2016


no? then pay CGT on the gain over and above your CGT allowance

Specialk321

By "they" i mean the conveyencer dealing with the sale. No I haven't contributed in the mortgage hence the reason I have stuck to the original amount of 15k. No matter what the house sold for this was our agreement. Although we only divorced last april no financial order was done, my ex husband stated on divorce however he would look to be doing one. I find it all confusing hard to get a clear answer 😔