Capital Gains Tax window for divorcing couples set to widen

Divorcing couples will have more time to divide their assets without having to pay capital gains tax, a Treasury letter to the Office of Tax Simplification has revealed. While married couples and civil partners can transfer assets without having to pay any CGT, those who separate may have to pay up to 28% on some transfers as a couple who have separated remain married for CGT purposes only until the end of the tax year of separation. Officials have now said the so-called “no gain-no loss” window should be extended.

 

The Sunday Times

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