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CGT Financial consent order

  • hurting2000
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26 Jun 22 #519523 by hurting2000
Topic started by hurting2000
My solicitor drafted Consent Order and my ex queries the clause re him paying capital gains tax. I am myself confused why there would be any CGT paid.
Could someone please clarifies what our position is:
- we own one property and have been living in it for 14 years
- property is for sale now and sale will complete around Sep.
- Ex had non mol order and di not live in the property between Jan 21- 15th Jan 22.
- He moved back in on 15/01/22, however he was allowed to moved back in in Nov 2021 when NMO was dismissed.
- He was staying several nights a week between Nov 21 and 15/01/22
- Does the 9 month rule apply in his case- that he needs to live in the property for 9 months before sale goes through (which date counts exchange of contracts or completion date) to not to be liable for CGT?

Another question: is it necessary to have the clause about any CGT in the consent order?

Thank you

  • hadenoughnow
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02 Jul 22 #519547 by hadenoughnow
Reply from hadenoughnow
If the property was his main residence then I doubt cgt would be an issue. The clause may just be there as a precaution.

Hadenoughnow

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