On 20 July 2022 the government published a policy paper on new legislation regarding capital gains tax for those going through separation or divorce.
The existence of family business assets tends to complicate divorce proceedings. Those running the business are anxious to know how the Court will treat their business and their other half of course wants to know if they are entitled to a share of the ‘business’ and if not why not?
In family cases, there is often a point at which outside expertise needs to be brought in. This could be to value the family home, to value a business or to advise on how to value and share the parties’ pension funds. What are the steps to achieve this and what do you need to think about?