Tax and divorce settlement

[caringcaroline]

Am about to accept house and agree no claim on ex's pension. As part of this deal he is giving me £40k in cash. We've been separated for over 4 years and he hasn't lived in the FMH.

We have a decree nisi.

His solicitor has drawn up a Heads of Agreement (I'm not very clear on what a HOA actually is).

If the consent order is approved by the judge, is anything subject to capital gains tax? For example, if I were to subsequently sell the house? Is the 40k subject to CGT if he applies for and gets a decree absolute before giving me the money?

Am really confused about the timelines but obviously don't want to pay CGT on the £40k if it can be avoided.

You need the advice of an accountant or solicitor to work it out. I know you won’t pay CGT on the FMH but can’t advise on the £40k. Sorry!
Good luck with it all.

Assuming you live in the house, no CGT for either of you.

No CGT on him giving you £40K

Pensions are often the biggest asset.
Have you seen a Cash Equivalent Transfer Value quote from the pension firm?

If not, you need to before you agree the split