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Read our latest Financial Settlements guide (2021) 

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.

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.

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capital gains

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03 Jul 12 #340724 by eilidh
Topic started by eilidh
Hi , Scottish law . I have a property transferred to me by now ex husband. He had to pay the capital gains last year as he transferred this to me. I would like to sell the property next year. Would I have to pay more capital gains on it?

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03 Jul 12 #340767 by Fiona
Reply from Fiona
At present taxation is a reserved power the UK Parliament so CGT is the same throughout the UK.

There is exemption from paying CGT on your main private residence. Your ex would be liable for paying CGT because he no longer lived in the property. As long as the property is your main private residence there won''t be any CGT liability for you to pay.

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03 Jul 12 #340778 by eilidh
Reply from eilidh
Hi Fiona,
I should have made it clearer.The property is a flat and not my main residence. It''s rented out at the moment. It was in joint names but was transferred to me at the divorce last year.He would have had to pay the capital gains on it on the transfer to me. Now if I am going to sell it will there be very little capital gains as he has already paid this?

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03 Jul 12 #340781 by Fiona
Reply from Fiona
That''s right.

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