Capital Gains Tax on Divorce

Ordinarily the family home is exempt from capital gains tax as the principal dwelling of the parties. However, other assets such as buy to let properties & business premises will be subject to capital gains if the disposal of those properties does not take place in the year of separation to the end of the tax year. The government is proposing to extend that tax relief to three years from the end of the tax year of separation. It is a very important issue and some divorce lawyers overlook that matter. You should liaise with your solicitor and your accountant on the implications of capital gains tax on separation and divorce.

Mr Evans is available for free half hour interviews to give initial advice on divorce generally.