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plclegal
plclegal, Barrister
Category: Law
Satisfied Customers: 6597
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: 7 months ago.
Category: Law
Customer: replied 7 months 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 7 months 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 7 months ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Virtual-mod replied 7 months 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 6 months ago.

Hello, my name is*****’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 6 months 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 6 months 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 6 months 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 6 months 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 6 months 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 6 months ago.

Hello - I didn't hear from you.

Can I assist you further with your question?

Kind regards,

Peter

Expert:  plclegal replied 6 months ago.

Hello - I didn't hear from you.

Can I assist you further with your question?

Kind regards,

Peter