I am finalising a transfer of equity after a divorce, my ex- partner has obtained a mortgage offer, I have no solicitor, and my ex-partner and his new wife has a conveyancing solicitor. I have been sent a transfer of equity form (TR1) which transfers my shares to him and his new wife for an agreed price just below the 40% agreed on the consent order dated june 2006 . In which we agreed to put house on the market however as the house has not sold he is now buying me out. Wil I have to pay any tax on the amount paid to me for my shares.
You may need to reword your post slightly and also the title to post in another section, or it tends to get deleted as a duplicate question.
I would have thought, if the property was your main place of residence, you shouldn't have to pay Capital Gains tax on the profit. However, I could be wrong and it might be in your best interests to also find yourself a solicitor.