The Government has announced a change to how divorcing couples are treated for capital gains tax purposes when transferring assets between themselves. The new rules take effect from 5 April 2023 and a bill to this effect is currently passing through parliament.
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DIY Divorce. The one question which is tripping everybody up - Financial Orders
When you google ‘Get a Divorce’, the first search returned is the Government Website. After that, you will see several adverts from services promising you a ‘quick’ and ‘easy’ service –
When a married couple first reaches a decision to separate, they are often faced with a number of decisions to make:
- Should I be considering divorce? Is it too soon?
- Should I go and see a solicitor yet?
- Should we both remain in the family home?
- What shall we do about our finances in the meantime?
Most divorces do not end up in court, but divorce lawyers will always look at the approach the courts would be likely to take. In terms of dividing the assets (such as property or investments etc) that a couple may have, the general starting point is that all assets are put into the ‘matrimonial pot’ to be divided at divorce.
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