CG22400 | Transfer of assets: between spouses or between civil partners: separation, divorce or dissolution: introduction

This section explains how you can determine

• the date of disposal

and

• the deemed consideration for the disposal

where an asset is transferred between spouses following permanent separation or divorce, or between civil partners following dissolution of the civil partnership.

In practice it is the date of disposal which governs the deemed consideration. So you need to follow the guidance at CG22410 to decide the date of disposal and then follow the guidance at CG22420 to decide on the deemed consideration.

Where the transfer is of the matrimonial or civil partnership home or of an interest in that home you should also refer to the guidance relating to private residence relief at CG65300P.

The Divorce, Dissolution and Separation Act 2020 which came into effect on 6 April 2022 updated the legal language used for divorce in order to make language simpler and more accessible to those outside the legal profession and align across all legislation relating to divorce, dissolution, and separation. In particular the following language was updated:

• ‘Petition’ became ‘Application’

• ‘Petitioner’ became ‘Applicant’

• ‘Decree Nisi’ became ‘Conditional Order’ and

• ‘Decree Absolute’ became ‘Final Order’