September 2022

Going to court for a divorce financial settlement can be a stressful experience. Your concerns may be centred around a particular asset, such as whether you will get the family home, or keep your final salary pension, or your worries may revolve around physically going to court and giving evidence.

When you decide to separate or divorce it can feel as if everything is in suspended animation whilst you wait for your family solicitor to sort out your divorce and the financial settlement.  No one wants to be left in limbo whilst divorce proceedings are underway so in this article we answer your question on whether you can sell your business before you divorce. 

If you are getting divorced and your husband is self-employed you may be worried about splitting your finances on divorce. You are likely to be concerned about proving what assets your husband has, establishing the true value of those assets, working out his income and how you are going to achieve a fair divorce financial settlement.

Currently, if a couple transfers assets between them any time after the tax year in which they separated, there may be Capital Gain Tax to pay.