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Do you pay Capital Gains Tax on your share of a Property via Legal Charge

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  • #1

    Do you pay Capital Gains Tax on your share of a Property via Legal Charge

    A relative who split from (and divorced) his wife about 3 years ago has a legal charge on the Marital Home, for a percentage of the final net value of the sale of the property.

    Questions is, would he have to pay Capital Gains Tax on the money he'd receive once sale is complete?
    Last edited by teaboy2; 22nd November 2014, 12:42:PM.
    Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (LB),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

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  • #2
    Re: Do you pay Capital Gains Tax on your share of a Property via Legal Charge

    Not if it was his primary residence I think.
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    • #3
      Re: Do you pay Capital Gains Tax on your share of a Property via Legal Charge

      Ok, well hes not been living there for last 3 years. So what effect does that have on whether he pays Capital Gains or not? Yes during the marriage it was his primary place of residents and as far as i know, hes not registered a new address as primary place of residents.
      Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (LB),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

      By using my advice in any form, you agreed to waive all rights to hold myself or any persons representing myself of any liability.

      If you PM me, make sure to include a link to your thread as I don't give out advice in private. All PMs that are sent in missuse (including but not limited to phishing, spam) of the PM application and/or PMs that are threatening or abusive will be reported to the Site Team and if necessary to the police and/or relevant Authority.

      I AM SO GOING TO GET BANNED BY CEL FOR POSTING terrible humour POSTS.

      The Governess; 6th March 2012 GRRRRRR

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