Tax help wanted

Under the current tax rules on asset transfers between husband and wife or between civil partners when they separate or divorce, the parties are able to transfer assets between them without crystallising any tax liability, provided that they are still cohabiting. When they separate permanently the no gain/no loss rule continues, but only in relation to transfers made during the tax year of separation. Transfers at a later date may be subject to a capital gains tax charge if the asset has gained in value.