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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Advice on legal fees/CGT

4 replies

recmum3 · 23/02/2022 14:16

After quite an unhappy marriage I have finally found the courage to ask for a divorce, we tried therapy a few times but sadly lockdown made things worse. My husband is quite controlling and he is very up and down with his moods, I realised how anxious I felt around him and how the arguments were affecting the children.
I feel guilty for breaking up the family and I am trying to keep strong.
We are financially in a good position but we have a few properties, I also am much more dependent on him financially than I was 2 years ago.
He is keen to buy my out the family home and I have agreed but he wants me to move out and offered to pay for a rental for 6 months.
Legal advice was to stay put.. However hearing of the financial situation they are quoting a lot to deal with it all. I dont have the funds and I also dont want money wasted on this.
Is there any way of doing it cheaply on my own? If i agree to his offer is there any way of having it checked?
Does anyone know much about Capital Gains tax if you get bought out of a house?
Sorry a lot of questions but I am a little bit overhwelmed

OP posts:
Fleur405 · 23/02/2022 14:22

You don’t usually pay CGT in respect of your principal private residence - but obviously you have to time the transfer Re moving out. If you want to do things yourself I would recommend consulting the HMRC manual on CGT however I suppose the question is whether you would be wasting money if your lawyers could get you a better overall deal. You probably want to look at pensions etc as well and it can actually get quite complex.

MrsBertBibby · 23/02/2022 19:46

Moving out will set the clock running on your becoming liable to CGT on the transfer of the family home. You have 9 months after the end of the tax year of separation.

You will also have to consider CGT on any transfers of the other properties.

Your husband should be paying for your legal fees. You need a solicitor.

recmum3 · 23/02/2022 20:20

Thanks yes I will use one. Its just a little confusing and I have lived for so many years completely trusting him financially I didn’t realise how helpless I’ve allowed myself to become, I feel quite trapped
I don’t want to antagonise him too much as whilst he wouldn’t do anything too serious he will just make my life difficult as is already angry and upset I’ve made this decision.

OP posts:
WingingIt90909 · 01/03/2022 20:53

What evidence would the tax office look for as far as a date of separation goes? Is it when you've verbally agreed to separate, or is it when there's a court order, divorce petition, written separation agreement?

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