Separation Tax Anxiety
03 / 03 / 2021
In this article for the STEP Journal, Helen Barnett, a senior associate in the Private Client team, and Trisha Siddique, a senior associate in the Family team, discuss how capital gains tax (“CGT”) applies when spouses or civil partners sell or transfer assets between one another on separation or divorce. There are CGT reliefs and exemptions that can apply but this often depends on what point in the proceedings the sale or transfer happens. Taking good tax advice is therefore essential to avoid unexpected tax consequences.
Our Private Client and Family teams work closely together to provide a coordinated approach to matrimonial law and personal tax. Please contact Helen or Trisha for further information or speak to your usual Wedlake Bell adviser.
Trisha Siddique and Helen Barnett, “Separation tax anxiety“, STEP Journal (Vol29 Iss1), p.41