Is there CGT if transfer from joint to sole ownership because of separation (9 Posts)

[HiTetty]

Hello, just asking if you can share your experience or knowledge of the above. property was last used for renting. Originally as residential, but rented since 2010. My understanding is that no CGT applies if transferred is in same tax year the Financial Consent Order is signed. Plan is to sign the Financial Order early Sept, transfer properties into sole names (one for each; one rented but currently empty for a year, and one as family home).Then apply for Decree Absolute soonest after.

Was posted under "Divorce", and was suggested to try here as well.
Much thanks

You’re wrong. There’s no CGT payable if the transfer is done in the same tax year that you separated.

Thank you so much collaborate. This is useful. That is how I think it is, but my stbEx think there is. So as long as we transfer to each other before April, I should be free of paying CGT. I will get the family home, so no CGT either. Much thanks again.