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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

 

Capital gain tax on rental property

  • verabic
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06 Feb 24 #522538 by verabic
Topic started by verabic
Hello ! After divorce my husband will keep our rental property. If we sell it, we would have to pay £45,000 capital gane tax. The husband is not planning to sell the property, but asking to reduce estimated current value of the property by the amount of the tax. I don't know if it's right or not

  • hadenoughnow
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07 Feb 24 #522541 by hadenoughnow
Reply from hadenoughnow
Is he planning to live in it? If yes then any CGT liability will disappear over time. You need to check if you have a liability if the property is in joint names and you transfer your share to him.

Hadenoughnow

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