Q&As

A and B enter into a matrimonial settlement under which A acquires B’s interest in an investment property and B acquires A’s interest in the family home. The investment property becomes A’s main residence. Will there be a capital gains tax liability when A later sells the property?

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Published on LexisPSL on 16/01/2018

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • A and B enter into a matrimonial settlement under which A acquires B’s interest in an investment property and B acquires A’s interest in the family home. The investment property becomes A’s main residence. Will there be a capital gains tax liability when A later sells the property?

Provided that the property has been A’s only or main residence, A should be able to claim principal private residence relief in respect of any gains arising on a disposal of the property under the normal rules. The relief would cover the period from when the property became A’s only or main residence until the date of disposal. The relief would also cover the last 18 months’ of A’s ownership, even

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