CDH

thank you for the response I have found the following information on a legal website and ask please if you could confirm that this is in fact correct please as this scenario is identical to mine including timeline dates, my court order is being signed off by the Judge tomorrow 27th April 2023 in a court hearing. - • Scenario B - A married couple separated in January 2018. They could not agree the division of their assets so instructed solicitors to issue court proceedings. There are several assets involved and a number of valuations and reports have had to be obtained. This, coupled with the delays caused due to Covid-19 has meant that their case has still not been concluded. If their case does not conclude until after April 2023 then the new tax rules will be in force and any transfers made between them will be subject to the ‘no gain, no loss’ rule. A formal divorce separation that transfers assets between spouses is not restricted to the new three-year rule.

thank you for the response I have found the following information on a legal website and ask please if you could confirm that this is in fact correct please as this scenario is identical to mine including timeline dates, my court order is being signed off by the Judge tomorrow 27th April 2023 in a court hearing. - • Scenario B - A married couple separated in January 2018. They could not agree the division of their assets so instructed solicitors to issue court proceedings. There are several assets involved and a number of valuations and reports have had to be obtained. This, coupled with the delays caused due to Covid-19 has meant that their case has still not been concluded. If their case does not conclude until after April 2023 then the new tax rules will be in force and any transfers made between them will be subject to the ‘no gain, no loss’ rule. A formal divorce separation that transfers assets between spouses is not restricted to the new three-year rule.

I separated from my husband 1/01/2019 and divorced 26/03/2020 we owned 2 houses I remained in the family home and he moved into the other house that we both previously lived in together as a couple. In 2020 he completed a TR1 form and transferred the family home into my sole name, I remained jointly on the deeds and mortgage for the other house. Agreed a consent order this week made formal in court. He is to pay me a lump sum and I will be removed from the mortgage and sign TR1 for transfer of the second property into his name. He is not selling the 2nd home and is paying the lump sum from savings. My question is am I liable to pay capital gains tax on this lump sum, i have looked at all the pages on HMRC site and forum and am very unclear. I have also looked at the new rules and still don't understand my position. Thanks for any advice.