Capital gains tax

[Mamaonion]

I wonder if anyone can help. My divorce is horrible and drawn out and I thought we had gotten close to agreeing a settlement. My ex earns a massive salary but cannot manage money, is up to his eyeballs in credit cards and incredibly incompetent in managing his personal affairs despite being a lawyer!

Now my stbxh wants to move the goal posts as he just realised he will have to pay capital gains tax once we sell the house as he’s been living out of the marital home for 3 years, and he is expecting me to make up the difference by doubling what he takes from the sale of the house. This will mean I cannot afford to by the modest home I was hoping for - he was prepared to settle for a fee but he suddenly wants to double it. I earn a salary 1/5 of his (though I work full time) and have the kids 12/14 nights.

Sorry posted too soon! Is there anyway around this? Capital gains tax seems unfair as he only owns an interest in one home.

Thanks

Does he own another house ? Has he taken proper tax advice ? I think there is precedence for not paying capital gains if within a certain time period but it really needs a proper judgement.

Does he pay capital gains on all of it or just the section he owns? Has he provided info about the figure he's reached?

He's definitely over the threshold time wise though.

The period in which he lived in the house as his main home is exempt, as is the final six months of ownership. Unless you've made a massive capital gain in a very short time period and he lived in it for just a short time, I don't think the capital gains tax should be particularly high. As someone said above, I'd be asking him for his calculations of the CGT to make sure he's not got it wrong (and isn't trying to pull a fast one on you).

If he's renting and the house for sale is still his principle primary residence I don't think he would be liable for much at all.

I divorced a lawyer. Mine tried every nasty trick in the book. I think his CGT calculations are way out. Don't agree anything.