Capital gains tax is payable when you sell an asset for more than its purchase price. The transfer of assets between spouses and civil partners is exempt from capital gains tax as the transfer is considered to be on a “no gain, no loss” basis. This simple case becomes much more complicated when the transfer of assets is a result of the separation of the couple or as part of the court order during the financial dispute resolution.
This article gives you an insight into the basics of how capital gains tax works on separation and divorce.
