”With a tight deadline and so much work to do I could not be happier with how this has turned out. I was so stressed about providing tax details to the court but you took care of everything.”

Ms C, UK - Required CGT Report for division of assets during divorce proceedings

Divorce & Separation Case Study One

We were approached by a client who was going through a divorce and had been issued a court order requiring CGT advice on the division of jointly owned assets. The order specified a number of properties that needed to be sold or transferred, and it was crucial that the CGT implications of these transactions were considered carefully.

One of the biggest challenges of this engagement was the very tight timescales that were set by the court. We knew that we had to work efficiently to ensure that our client was able to meet the court's deadlines, while still providing them with the high-quality advice they needed.

We worked closely with our client to review the details of the court order and to identify the most tax-efficient ways of dividing the assets. We were able to complete the required work on time and provide our client with the information they needed to proceed with the sale or transfer of the properties.

However, during our work, we identified that the current settlement was not equal once CGT liabilities were taken into account. This meant that further work was required to ensure that the assets were split equally between the parties. We informed both our client and the court of this finding and worked diligently to find a solution that would ensure a fair and equitable division of the assets.

Despite the challenges presented by the tight timescales and complex nature of this engagement, we were able to deliver the results our client needed. They were able to proceed with the sale or transfer of their properties with confidence, knowing that they had received the best possible tax advice.

At The Tax Faculty LLP, we understand the complexities and sensitivities involved in divorce proceedings and the importance of securing a fair and just outcome. If you require assistance with CGT advice during divorce proceedings or any other tax-related matters, please do not hesitate to contact us. We are here to help you every step of the way.

our client said:

"...exceptionally helpful in working through my CGT calculations, ensuring my payments were thoroughly checked according to all of the laws and allowances. He was very knowledgeable and worth every penny spent on his services. I will be sure to use him again in future should the need arise."