Property News · August 25, 2016

I want to sell a house I've been renting out – will I have to pay capital gains tax?


I’m also wondering whether my ex-wife would have had to pay CGT when she sold her share of the property to me after our divorce Q Could you please assist me with the following complicated but not uncommon situation. In 2001, I bought house for £167,000 with my then wife. In 2005, we let the house out. In 2013, we divorced and I mortgaged the house to be able to buy out my ex-wife. In 2015, I remarried and gave my new wife half the property for mortgage and tax purposes. We are now considering selling the house for around £400,000. The house is still let and has been for around 136 months. Continue reading…

Source : theguardian.com
Read more…I want to sell a house I’ve been renting out – will I have to pay capital gains tax?

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