Policy paper

Draft legislation accessible version

Published 20 July 2022

1 Chargeable gains: separated spouses and civil partners

(1) TCGA 1992 is amended in accordance with subsections (2) to (5).

(2) In Part 3 (individuals, partnerships, trusts and collective investment schemes), in Chapter 1 (miscellaneous provisions), in section 58 (spouses and civil partnerships), for subsection (1) substitute바카라 사이트�

바카라 사이트�(1A) If an individual (바카라 사이트淎바카라 사이트�) disposes of an asset to another individual (바카라 사이트淏바카라 사이트�) in circumstances where any of subsections (1B) to (1D) applies, A and B are to be treated as if B acquired the asset from A for a consideration of such amount as would secure that on the disposal neither a gain nor a loss would accrue to A.

(1B) This subsection applies where the disposal is made while A and B바카라 사이트�

(a) are married to, or are civil partners of, each other, and
(b) are living together.

(1C) This subsection applies where the disposal is made바카라 사이트�

(a) while A and B are married to, or are civil partners of, each other,
(b) at a time when A and B have ceased to live together, and
(c) before the earlier of바카라 사이트�

(i) the last day of the third year of assessment after the year of assessment in which A and B ceased to live together, or
(ii) the day on which a court grants an order or decree for A and B바카라 사이트檚 divorce, the annulment of their marriage, the dissolution or annulment of their civil partnership, their judicial separation or, as the case may be, their separation in accordance with a separation order.

(1D) This subsection applies where바카라 사이트�

(a) A and B have ceased to be, or are in the process of ceasing to be, married to, or civil partners of, each other, and (b) the disposal of the asset is in accordance with an agreement or order within subsection (2)(a) or (b) of section 225B (disposals in connection with divorce etc).바카라 사이트�

(3) In section 225B (disposals in connection with divorce etc)바카라 사이트�

(a) in subsection (1)(b), after 바카라 사이트渢o바카라 사이트� insert 바카라 사이트渟omeone other than바카라 사이트�;
(b) in subsection (3), after 바카라 사이트渄isposal to바카라 사이트� insert 바카라 사이트渟omeone other than바카라 사이트�.

(4) After section 225B insert바카라 사이트�

바카라 사이트�225BA Deferred payments on disposals in connection with divorce etc

(1) This section applies where바카라 사이트�

(a) an individual (바카라 사이트淎바카라 사이트�) ceases to live with A바카라 사이트檚 spouse or civil partner (바카라 사이트淏바카라 사이트�) in a dwelling-house or part of a dwelling house,
(b) immediately before A ceases to live with B, the dwelling-house or part is A바카라 사이트檚 only or main residence,
(c) A disposes of, or of an interest in, that dwelling-house or part to B (바카라 사이트渢he initial disposal바카라 사이트�), and
(d) the initial disposal is in accordance with a deferred sale agreement or order.

(2) If바카라 사이트�

(a) in accordance with the deferred sale agreement or order A receives a sum in respect of a share of any profit made by B upon B바카라 사이트檚 disposal of, or of an interest in, the dwelling-house or part, and
(b) the receipt of that sum would be treated (apart from this section) as a disposal falling with section 22 (disposal where capital sums derived from assets), that receipt is to be treated for the purposes of this Act as a gain attributable to the initial disposal but accruing to A at the time the sum is received.

(3) In this section, a 바카라 사이트渄eferred sale agreement or order바카라 사이트� is an agreement or order of a court which바카라 사이트�

(a) is within paragraph (a) or (b), as the case may be, of section 225B(2) (agreements and orders of the court in relation to divorce etc), and
(b) includes a term entitling A to receive a share of any profit made by B as mentioned in subsection (2)(a).바카라 사이트�

(5) In Part 8 (supplemental), in section 288 (interpretation), in subsection (3), after 바카라 사이트減artner바카라 사이트� insert 바카라 사이트�(however expressed)바카라 사이트�.

(6) The amendments made by this section apply in relation to a disposal made on or after 6 April 2023.