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Selling house capital gains
Billozz662
Posts: 5 Forumite
Long story short.
My wife and I split and sold our house and bought a property each. We were apart for about 2 years but then got back together and decided to give things another go. My question is are we liable for capital gains on either of the properties.
Thank you.
Bill
My wife and I split and sold our house and bought a property each. We were apart for about 2 years but then got back together and decided to give things another go. My question is are we liable for capital gains on either of the properties.
Thank you.
Bill
0
Comments
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Understand you split: But were you still legally married?? As far as I know a married couple are only permitted one residence, any others subject to CGT rules etc..
https://www.tgbaynes.com/site/library/privateclient/finplan/capitalgainstaxforownersoftwohomes.html1 -
if still married and not legally separated, you will have to decide which of the two houses is your Main Residence and thus cgt free, the other will fall into cgt
If a divorced then you both have your own main residences and that will continue until you remarry1
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