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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Family Law
Satisfied Customers: 7451
Experience:  Dual qualified Solicitor and Attorney
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I am going through divorce. I am out of the family home in

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Hi, I am going through divorce. I am out of the family home in my father's spare room. Mediation raised prospect of selling the family home 7 years from now when youngest child turns 18 and splitting 50/50. While this is my sole jointly owned mortgaged property will I be liable for Capital Gains Tax when sold? The mediator suggests the 9 months to sell HMRC rules can be put on hold in a Consent Order. Is this possible. Also if I am liable is it on the full gains, or just the gains from divorce onwards?
JA: What steps have you taken? Have you filed any papers in family court?
Customer: None yet. Just started Mediation looking at child contact and assets
JA: Family Court normally sits in a local County and Magistrates' Court. Do you know the location of the court? If not, what county do you live in?
Customer: Hillingdon
JA: Anything else you want the Lawyer to know before I connect you?
Customer: With Pension sharing, does it have to be equal share in retirement. I have a bigger CETV and am told I have to level up spouse to equal income in retirement.
Hi! I am a qualified solicitor in England and Wales. I will be assisting you with your query today. I may need to ask a few questions before I can address your query.Please bear in mind this is a chat service and there may be delays in responding due to assisting other customers.
There is no capital gains payable on the sale of your primary property/ your home. 1
Customer: replied 12 days ago.
Even if I legally divorce and am not living in the property for more than 9 months after that? And house is sold at a later date? HMRC on divorce allow just 9, months for the partner who has left the property to claim PRR I was told. Can I be excepted from this if it remains my only property?
Capital gains simply does not apply if you sell your primary residence. If you own only one house, although your not living it it is still your main residence.Please clarify what you mean by PRR?
I presume you were referring to private residence relief.
I will research your query on 9 months. And come back to you
I understand that will only be relevant if you let part of your property.You can require the following link for your information:
https://www.gov.uk/tax-sell-home/let-out-part-of-home
I hope that answers your query today
Customer: replied 9 days ago.
Having consulted an accountant, it seems the PRR concession is only meant to extend for so long as I remain married. If I continue to own a share in my former matrimonial property I will be exposed to paying CGT on my share of any profit arising from the date my PRR ceases to apply up to the date of sale. Any profit arising during the time I lived in the property will be covered by my PRR claim. The PRR claim is valid under HMRC rules up to 9 months after the Decree Absolute. HMRC reduced this from 18 months to 9 from April 2020. These are the rules on legal separation or divorce on HMRC website.
That is outside my expertise. I will opt out for another expert to assist

Hi thank you for your message, yes so if you are no longer living in the property, if you are not living in the property more than 9 months after the decree absolute you may be subject to CGT. Hopefully, I have answered your query in a way that is simple and easy to understand. If anything remains unclear, I will be more than happy to clarify it for you. In the meantime, thank you once again for using our services.

Jeremy Aldermartin, Solicitor
Category: Family Law
Satisfied Customers: 7451
Experience: Dual qualified Solicitor and Attorney
Jeremy Aldermartin and 2 other Family Law Specialists are ready to help you