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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9612
Experience:  Dual qualified Solicitor and Attorney
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CGT question for divorce and two properties advise please?

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CGT question for divorce and two properties advise please?
My ex husband and I are doing out financials.
My parents gifted us a property (with a mortgage, but £107k gift deposited) July 2017
He left Jan 2018.
I live in the FMH, he lives in the second (BTL) property.
We are planning to sign over our equity in each house to the other party.
What happens about CGT? Do we both pay it on both properties? or just one? or do we not pay as both are our main residency? Appreciate any advise, thank you.
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.

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Hi thank you for your message, please note that I will look to provide an accurate but nevertheless speedy reply to your inquiry. I am sorry to hear about your situation but I will endeavour to help you today.

In relation to the property you live in CGT would not be payable as long as it has been your main home during your entire period of ownership. In terms of the BTL no CGT would be payable on any period it has been occupied as a main home during ownership. I trust this assists

Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9612
Experience: Dual qualified Solicitor and Attorney
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