The following Private Client Q&A provides comprehensive and up to date legal information covering:
In answering this Q&A, we have limited our response to cover the capital gains tax aspects of THIS Q&A (and disregarding, for example, the stamp duty land tax implications).
We assume that reference to the 'fmh' is to the former matrimonial home, and that this is the same as the former family home. We further assume that:
the reference to a settlement is to a financial agreement between the parties and not a trust
all properties and individuals are UK situated, resident and domiciled, and
this Q&A relates to whether capital gains tax (CGT) is payable on the sale of the property which the wife owns and
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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