Question:
I own a property with my ex-husband in Manchester, which I currently reside in. The estimated property value is £250,000. If I were to buy him out would I have to pay additional tax or stamp duty land tax, even though I paid this when we bought the property?
Arthur Weller replies:
If you own no other properties and you pay him not more than £125,000, then there will be no stamp duty land tax for you to pay when you buy his half of the property from him. Any potential capital gains tax is on him, not you.
