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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 12964
Experience:  30 years as a practising solicitor.
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I have a question on capital gains tax. Assistant: Where are

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Good morning I have a question on capital gains tax.
Assistant: Where are you? It matters because laws vary by location.
Customer: In the UK, North Yorks
Assistant: What steps have you taken so far?
Customer: Approached my solicitor who suggests I need to speak with a CGT specialist.
Assistant: Anything else you want the lawyer to know before I connect you?
Customer: I can give a brief background?

Can you explain your situation a little more and I will look at this and respond to you over the course of the day if I can.

Customer: replied 1 month ago.
I am in the process of reaching a financial settlement with my wife whilst our divorce is progressing through the courts. The sale of the former marital home is also going through. As part of the settlement it has been agreed that 100% of the proceeds of the sale of the FMH will go to my wife. The FMH has not been my main residence sine Feb 2018, the sale will likely complete Jan 2019. Am I liable to any capital gains tax even though I am not benefiting at all from the capital gain?

No, because this is part of a financial settlement in contemplation of divorce there is no CGT issue for you. I hope that helps. Please leave a positive rating so that JustAnswer credits me for my time.

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