Spears Indices
Spear’s Indices are authoritative surveys of the key players and the most respected authorities in the high net worth world. Every issue, we produce another Power Index – from lawyers to property, security to private bankers – and these will be constantly updated on the website as deals are done and profiles rocket. What is most important to HNWs is reliable information, and the thorough research and personal interviews of the Power Indices make them stand out.
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Q
I am at the start of divorce proceedings and am concerned about the tax implications. I have heard that you might have to pay capital gains tax on the assets you get as part of the divorce settlement - is this the case?
A
It is a little-known part of the UK tax system but divorcing couples may indeed find themselves subject to capital gains tax. This can happen, for instance, if the marital home is sold as part of the divorce settlement or even in a situation where the home is given to one spouse under the settlement, with no money changing hands.
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