Capital Gains Tax: The new rules
Following the Spring Finance Bill 2023 in March, couples will be given longer to transfer assets between them without capital gains tax (CGT) consequences.
Under the new rules the spousal exemption will be available for up to three years after the end of the tax year of separation, or an unlimited time when the assets are transferred as part of a formal divorce agreement. This applies to disposals made on or after 6 April 2023.
Before the 6th of April, if you've already separated your assets, the old rules apply. After the 6th of April, if you've yet to separate your assets, the new rules apply.
This means that separating couples have more flexibility and time for planning in terms of reaching an agreement over their money, property and other assets as they separate.
