Tax & Divorce: Frequently asked questions for Stowe Family Law

Tax On Divorce » August 5, 2019

tax and divorce FAQs

Tax and divorce by Sofia Thomas

In this guest post for Stowe Family Law, we take a brief look at the most common questions encountered when it comes to people questioning their potential tax implications during a divorce.

We look at whether you need to even consider tax on your divorce. For those who prefer a visual aid, we’ve also got a handy flow chart that tries to outline a majority of the common situations. However please note that it wouldn’t be possible to include all the potential eventualities.

The article then goes on to look at the UK as a whole to understand whether or not a settlement will be taxable in the United Kingdom.

To read the full article, head to the following link Stowe Family Law: Tax & Divorce.

Top tax tips during divorce or dissolution of a civil partnership by Sofia Thomas

In this post, on Stowe, we look into the top tips you should consider for tax during a divorce or dissolution of civil partnership. It should come as no surprise that during a divorce, separating finances is a struggle for many. So regardless of what you plan to do with your assets, there could be a tax charge or implication.

Unforeseen tax implications can have two major impacts:

  • Reduces the value of the assets and or settlements
  • Unpaid taxes can result in penalties of up to 100% and possible HMRC enquiries. It is often not possible to reverse these consequences

To read the full article, head to the following link: Top tax tips during divorce or dissolution of a civil partnership.

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