Capital gains tax

Your query is not clear. She moved in where? Do you mean that she bought a house as an owner occupier c. 3 years ago and then rented it out after 1.5 years? If so then she is liable for a clawback of stamp duty and then c. (1.5 - 1) / 3 = 17% of any gain is assessable for CGT.

Thanks,
I'll make it clear.We brought the house as a second house, paid stamp duty,which was small as it was only 201.000 K. Maybe ut was the strain of all the buying , decorating etc, we seperated. She now moved in there for over a year. We got back together and have rented it since.

Now we want to sell.

I'm sorry about this but I usually pick up these things quick but CGT has me stumped big time.
Mainly about the exemptions.

I Think the difference between the buy and sell will be around 180,000
I have spent about 15,000 doing it up. Spent only about 8000 or so on stamp duty at the time and 2000 or so on fees. This time fees should be around 5000.

Whats this about the 12 month exemption, is there some sort of calculation I make to take away 12 months.

So you can see , I'm at the back of the class here.
Tried reading other posts but still not clear.

Tom

If you paid investor SD on the original purchase then no clawback applies.

If you owned it for 3 years and she lived in it for 1.5 then my rough calculations above should illustrate what sort of portion of any resale gain will be assessable for CGT.

Then you calculate your CGT as per the normal rules (e.g. deducting previously incurred capital losses if applicable, any allowable expenses, your annual CGT allowance etc.). Revenue [broken link removed] this but if you still don't get it then get independent, professional assistance with your CGT return.

HOWEVER! If you remained married albeit temporarily separated you would need to check that you were considered two single individuals for a period of time and that the tax treatment outlined above applies. I'm not sure. Basically a married couple normally can only have a single joint PPR so I'm not sure what happens in the case of a temporary separation.

In my opinion you should get independent advice on this.