Tax implications

[Mick31]

Hi,

due to marriage breakdown, we are to sell our apartment that we acquired in November 2006 as first time buyers. Is there any tax payable on proceeds of this sale since we were exempt of stamp duty when we bought it, and obviously, we are not trading up or anything like that?

Since we bought this propety, we were living in it so it was a family home.

Thanks

 

[ClubMan]

Tax implications

There is no CGT due in the circumstances described.

This thread might also be of interest to you if either or both of you might buy again:

Separatees can be treated as first time buyers