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Capital Gains Tax transferring equity?

tubs777 Posts: 3 Newbie

11 June 2021 at 5:11PM in Reclaim mortgage fees, council tax, etc

Myself and my girlfriend have owned a joint property for 15years, it is our only property and main residence.

I wish to buy her share of the property (as I make the monthly mortgage payments anyway) and she would prefer a cash amount now instead of building future equity.

We have agreed a transfer of equity, I have received a mortgage offer to pay her a fixed sum, remortgage the remainder of the debt and remove her from the title deeds.

Is any of this exchange likely to be subject to any Capital Gains Tax payments?
I know I have to pay stamp duty on the chargeable amount I pay her which I have factored in. This is our primary home, neither of us own any other property and this is our main residence, we are unmarried but it is an amicable agreement as she wants the cash now and I want the house and can assume the rest of the debt.

Any help greatly appreciated!

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Capital Gains Tax transferring equity?

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