Tax change will add to divorce misery

New rules dictating how long couples have to sell a property after separation will bring added stress to families.

A capital gains tax change proposed in the budget is set to increase strife among divorcing couples at a time when the government is supporting plans for no-fault divorce.

Under the measure, which was not mentioned in the chancellor’s speech and is due to take effect in April 2020, if you have moved out of your home because of the breakdown in your relationship, you will be hit by a capital gains tax bill unless you can sell that property within nine months.

This amount of time may not be sufficient for divorcing spouses to settle the legal and financial aspects of a marriage breakdown.

https://www.thetimes.co.uk/article/tax-change-will-add-to-divorce-misery-wk5zfqx2w

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