financial advice-help please
 

hi all

any help very much appreciated.

me and maud are gettin divorced.looks like the house sale is almost complete so i will have a substantial lump sum very soon.

do i have to reinvest this into another house and/or declare it to the tax man.

cheers

colin

If it was your primary residence, then no. It will be free of capital gains tax (CGT).
The money is ALL yours to do with as you please....

As above, but I thought you had to claim it to the Taxman if you had only been in the house less than a certain time (2yrs IIRC), also there is a new tax form which needs to be filled in when buying/selling a property now.

John.

There is no minimum time to have lived in the house if you haven't lived anywhere else or owned other property. The form you have to complete now is about stamp duty, but the solicitor handling your conveyancing would normally do that