Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.
If the adjustment is completed within the tax year of separation there is no liability to Capital Gains Tax (CGT).
To avoid any possibility of CGT, yes. Mark you, the level of tax is likely to be small and you each have a non cumulative Annual Exempt Amount (AEA) of 12K to offset this.
Delighted to have been of assistance.
Please be so kind as to rate me before you leave the Just Answer site.