The UK's largest and most visited divorce site.
Modern, convenient and affordable services.
We've helped over 1 million people since 2007.

Click this button for details of our

email, phone nbr and free consultations.

How To Contact Us

CGT Financial consent order

Start
Prev
1
Next
End

hurting2000
Posted by
Junior Member

26 Jun 22 #519523 by hurting2000

Topic started by hurting2000

My solicitor drafted Consent Order and my ex queries the clause re him paying capital gains tax. I am myself confused why there would be any CGT paid.
Could someone please clarifies what our position is:
- we own one property and have been living in it for 14 years
- property is for sale now and sale will complete around Sep.
- Ex had non mol order and di not live in the property between Jan 21- 15th Jan 22.
- He moved back in on 15/01/22, however he was allowed to moved back in in Nov 2021 when NMO was dismissed.
- He was staying several nights a week between Nov 21 and 15/01/22
- Does the 9 month rule apply in his case- that he needs to live in the property for 9 months before sale goes through (which date counts exchange of contracts or completion date) to not to be liable for CGT?

Another question: is it necessary to have the clause about any CGT in the consent order?

Thank you

hadenoughnow
Moderator

02 Jul 22 #519547 by hadenoughnow

Reply from hadenoughnow

If the property was his main residence then I doubt cgt would be an issue. The clause may just be there as a precaution.

Hadenoughnow

Start
Prev
1
Next
End

Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.