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18 September 2012

What tax year so we have to use for Capital Gains Tax on other properties after second separation leading to divorce?.

I moved out Sept 2011 and rented elsewhere. July/ Aug 2012 we lived together again and tried a reconciliation. (i still had a separate rented property - due to lease not ended) After a holiday away together I dont think it is working and I believe we will officially separate within the next couple of months and i will return to the rented property. I am not concerned about our residential property but we have 4 other properties we rent out as a business - not a limited company. (mortgages on 2 only) We will transfer these to each other to share out as such. Will we have to pay CGT? or will our short period together again mean we can use this tax year 2012/2013 as our seperation date. As we at least get on well now, we plan to arrange the finances before we divorce officially.

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