How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7682
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

I am selling a property that I bought in April 1989. In

Customer Question

I am selling a property that I bought in April 1989. In August 2013, I bought another property that was renovated and we moved into in April 2014.The first property which I am now selling was occupied by me occasionally during April 14 to date but not as my primary residence. The first house was bought by my husband and I for £54,000 and we spent approximately £10000 on having a garage built and central heating installed. My husband and I separated in 1999 and I bought his share of the house. I am selling the house for £150,000. Can you tell me roughtly how much capital gains tax I will be liable for ?
Submitted: 12 days ago.
Category: Tax
Expert:  bigduckontax replied 12 days ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

I am sorry to be so obtuse, but you mention 'first' property twice. Just to make it quite clear am I right in assuming that you bought a property and your husband did also? Also how much did the house you are selling cost?

Customer: replied 12 days ago.
When my husband and I separated, I bought his share of the house we had bought together in 1989 and the deeds were transferred into my name only. I am now selling this house for £150,000. It cost £54,000 when we bought it in April 1989
Expert:  bigduckontax replied 12 days ago.

I am sorry, but I must opt out of this question.

Customer: replied 12 days ago.
Please refund my payment. I will contact a local professional I can go and visit. Please confirm you will refund my payment. Thank you
Expert:  bigduckontax replied 12 days ago.

I am sorry. but that is outwith my powers. You have to apply to Just Answer Administration for a refund of your fee.