Spear's Salon

Strong Opinion from our Stable of Star Turns

William Cash

William Cash is Editor-in-Chief of Spear's WMS and has twice won Editor of the Year at the PPA Awards (2007 and 2008).

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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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