Selling the girlfriend's house after we get married.....?
Discussion
My GF owns a property that's been empty since she moved in with me about 8 months ago.
We get married in September and she wants to sell it. It will then be a "2nd" home.
If we still own it aswell as our marital home when she sells it, will it have to incur CGT on the profits since purchase or would HMRC give us a break as under the circumstances?
The plan was to sell it before we tie the knot, but everything has been so busy we just haven't go round to it, and now it's looking like it's too late to get the sale complete before September 2nd.
We get married in September and she wants to sell it. It will then be a "2nd" home.
If we still own it aswell as our marital home when she sells it, will it have to incur CGT on the profits since purchase or would HMRC give us a break as under the circumstances?
The plan was to sell it before we tie the knot, but everything has been so busy we just haven't go round to it, and now it's looking like it's too late to get the sale complete before September 2nd.
Thanks for the help guys.
Yes it's her primary and only property.
We intend to sell it before I sell my primary residence and we buy a house together (me with £400k of equity and her with about £15k
)
We did consider renting it but it's not worth paying the additional 3% on the family house we will buy together.
Yes it's her primary and only property.
We intend to sell it before I sell my primary residence and we buy a house together (me with £400k of equity and her with about £15k
) We did consider renting it but it's not worth paying the additional 3% on the family house we will buy together.
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