188体育

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) substitute鈥�

鈥�(1A) If an individual (鈥淎鈥�) disposes of an asset to another individual (鈥淏鈥�) 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 B鈥�

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

(1C) This subsection applies where the disposal is made鈥�

(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 of鈥�

(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 B鈥檚 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 where鈥�

(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).鈥�

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

(a) in subsection (1)(b), after 鈥渢o鈥� insert 鈥渟omeone other than鈥�;
(b) in subsection (3), after 鈥渄isposal to鈥� insert 鈥渟omeone other than鈥�.

(4) After section 225B insert鈥�

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

(1) This section applies where鈥�

(a) an individual (鈥淎鈥�) ceases to live with A鈥檚 spouse or civil partner (鈥淏鈥�) 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 A鈥檚 only or main residence,
(c) A disposes of, or of an interest in, that dwelling-house or part to B (鈥渢he initial disposal鈥�), and
(d) the initial disposal is in accordance with a deferred sale agreement or order.

(2) If鈥�

(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 B鈥檚 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 鈥渄eferred sale agreement or order鈥� is an agreement or order of a court which鈥�

(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).鈥�

(5) In Part 8 (supplemental), in section 288 (interpretation), in subsection (3), after 鈥減artner鈥� insert 鈥�(however expressed)鈥�.

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