Cutting an Object in half ?

Back in “Anim8or” when I was still using XP there was a tool called loop cut, it was a bit like the knife subdivide but after you struck your line it would cut the object in half and the two objects created could be selected seperately and moved apart.
In Blender I cant seem to be able to do this ?
I have found a work around where I do three “Knife Subdivides” then select the centre line vertices and delete them and this leaves two objects that can be edited seperately in Edit mode and can be coloured seperately by applying materials to their seperate faces but they are still treat as one object.

So how do I chop an object in half so it is treat as two seperate objects ?
Is there a way ?

Thanks :Z

Use the knife tool or Loop Subdivide (Ctrl-R) to divide your object. Then select the vertices you want to seperate and press P.

Thats the fellow.
I was half way there but I wasnt selecting the right amount of vertices to seperate §.

Cheers mate.

I had my doubts about this Blender but with a bit of time spent learning it I find it is a canny bit of kit.