Thank you for your question.
The rules governing CGT when there is separation/divorce are as follows (helpsheet HS281)
If you or your spouse or civil partner were living together at some time in a tax year, you can transfer assets between you at any time in that tax year at no gain/no loss. There’s no requirement that you should be living together at the time of transfer.
More information on this can be found here
If you move out of the matrimonial house and transfer your share to your ex wife, any gain on your share would be exempt from CGT as it would be covered by private residence relief in two ways -
the period it was your main residence plus final 18 months of ownership.
I hope this is helpful and answers your question.
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Thank you for your reply.
You moved out of the property in May 2014...the period to Nov 2015 is covered by private residence relief.
Any period Nov 2015 would fall under changeable gain.. say the property is sold in Nov 2016..then 12 months out of a total of 84 months (assuming property purchased in Nov 2009) would be chargeable gain
if the gain is £200k, your share is £100k and the chargeable element is (100,000/7) £14,285. Your gains allowance is £11,100 and you would CGT on £3,285.
I hope all is helpful.
A transfer from joint name to a sole name is ***** ***** sale for CGT purposes.
Transfers between spouses are tax neutral but in your case, there is likely to be a small capital gain tax liability.
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