Looking for pointers on ratio of split of equity in marital home, please PART 2

[Vitamin33]

Hello Everyone
I posted in January seeking advice on behalf of my son and appreciated the replies I got, with special thanks to Peridot.
I now have another related question. My son moved out of the marital home in January. In august the house comes up for remortgage, and the plan is for wife to buy my son out of his share in the property, which will amount to around £60K max. Will my son have to pay capital gains tax on this money? He is currently living at a loss, as he is renting, and wants to use the money to get a place of his own. I just read something about him being liable if he moved out in the prior tax year and given that any settlement will not be agreed until after the end of this tax year my concern is whether he will be on the hook for CGT. Any input will be much valued. Thank you all for reading.

If need be, he could move back in. His wife wanted his keys but he refused, on the basis the house is still half his.

[Amethyst]

How much did they pay for the house originally ? And what year did they buy it ? What's the current value (what valuation is that £60k for your sons share based on?)

CGT is on 'profit' and his share of such. There's also relief for the years that he did live there ( so if they bought the house 10 yrs ago and he lived there for 9 there'd be 90% relief )

https://www.gov.uk/tax-sell-property/work-out-your-gain

[Vitamin33]

How much did they pay for the house originally ? And what year did they buy it ? What's the current value (what valuation is that £60k for your sons share based on?)

CGT is on 'profit' and his share of such. There's also relief for the years that he did live there ( so if they bought the house 10 yrs ago and he lived there for 9 there'd be 90% relief )

https://www.gov.uk/tax-sell-property/work-out-your-gain

Thank you, Amethyst. They bought house nearly 3 years ago, in May 2015, for about £290k and with improvements made and sales of neighbouring properties value is estimated to be about £450K so equity circa £160K so my son is thinking if he was to get 40% of that, he would end up with about £60K. Thanks vm

CORRECTION: they bought house nearly 4 years ago, fo £320K and estimated worth is about £450K. Sorry, and thanks again