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Capital Gains Tax on Rental Property after divorce
gaz1158
Posts: 2 Newbie
I just need some advice, I bought a house with my then wife in 2004, we divorced in 2008 and I bought her out. I then bought another house in 2015 which I moved into and rented out the former marital home. I am now thinking of selling the former marital house but what I want to know is, when calculating the CGT, am I right in doing this from when I became the sole owner in 2008 at that value?
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Comments
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I think you have half the value at the price you paid when you first bought and the other half at the value you bought the second half of your wife.
do check on the tax board, it may also be that the length of ownership vs length of it being your PPR may be different on the two halves or they may be combined in some way. https://forums.moneysavingexpert.com/categories/cutting-taxI'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.2
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