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Could there be any tax complications on receipt of sale money?

Question:

My wife and I are selling a holiday home we bought seven years ago, and we are not making any profit. Are there any tax complications when we receive the sale money as regards who receives the cheque?

Arthur Weller replies:
If you are not making any profit on the sale, there cannot be any capital gains tax. If the house was in the name of both of you, it makes no difference who receives the cheque.

My wife and I are selling a holiday home we bought seven years ago, and we are not making any profit. Are there any tax complications when we receive the sale money as regards who receives the cheque?

Arthur Weller replies:<

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This question was first printed in Business Tax Insider in March 2017.