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plclegal
plclegal, Barrister
Category: Law
Satisfied Customers: 4817
Experience:  Barrister at law
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I am currently going through a divorce which has taken a

Customer Question

I am currently going through a divorce which has taken a significant amount of time and I would like to know if there will be capital gains on the sole property in my name. I cant find information or details on how much advice costs. Therefore can you pls let me know any additional costs before advice given. Details are:- Myself (Husband) and my wife own only one asset and property .. the former marital home. There are no other properties.
- Property was purchased in March 2006 and is in my name (I am the Husband)
- We separated September 2013, ie I moved out on this date and have been in rented accommodation.
- Applied for divorce:Feb 2016. Decree Nici date: Jul 2016
- Divorce is likely to be concluded early 2020 but house will be put on market August 2022 (therefore sold early 2023)Obviously the house has increased in value since 2006 and I am assuming given it is the only house I own and is being used as primary residence by my wife and children there should be no capital gains tax. But for the purposes of the divorce I would like to confirm this.Thx.
Submitted: 13 days ago.
Category: Law
Customer: replied 13 days ago.
I selected Tax/Accountant but then there was no option for UK Tax only foreign tax jurisdictions. Therefore I put Finance as my "category". Can you pls reassign???
Customer: replied 13 days ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 13 days ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Virtual-mod replied 13 days ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Expert:  plclegal replied 7 days ago.

 

Hello, my name is Peter, I’ve been asked to look at this for you, thank you for your patience.

Please bear in mind as this is an email service and not live chat I may not respond immediately.

I will come back to you shortly with a response.

Expert:  plclegal replied 7 days ago.

If this is the principal (and only) residence there should be no CGT liability upon sale, as I understand.

Can I assist you further at this stage?

Expert:  plclegal replied 5 days ago.

Hello - I didn't hear from you.

Can I assist you further with your question?

If you have further questions, you can always come back to me.

In the meantime, if you could take a second to provide a 5 star rating (top right of your screen) I'll be credited for my time spent responding to your question.

Kind regards,

Peter

Expert:  plclegal replied 2 days ago.

Hello - I didn't hear from you.

Can I assist you further with your question?

If you have further questions, you can always come back to me.

In the meantime, if you could take a second to provide a 5 star rating (top right of your screen) I'll be credited for my time spent responding to your question.

Kind regards,

Peter

 

Expert:  plclegal replied 1 day ago.

Hello - I didn't hear from you.

Can I assist you further with your question?

If you have further questions, you can always come back to me.

In the meantime, if you could take a second to provide a 5 star rating (top right of your screen) I'll be credited for my time spent responding to your question.

Kind regards,

Peter