Divorce and separation are never easy but being aware of the tax and financial consequences can save you a lot of hassle and money.
Take, for example, the act of separation – usually by leaving the matrimonial home. Separating just before the end of a tax year (5th April) can have a disastrous impact on your Capital Gains Tax position. So you need good and timely advice.
The courts normally start from the position of splitting assets on a 50:50 basis but the financial settlement rarely ends up at 50:50. Matters can be complicated by shareholdings in family businesses which will require a valuation. Furthermore it may vital to establish how much money a spouse can extract from the family business in order to meet the financial settlement. We are skilled in matrimonial disputes and have assisted several couples to reach settlement, sometimes by appearing in court.
We are also skilled in Collaborative Resolution whereby divorcing and separating couple resolve their dispute and reach settlement without the stress and cost of court proceedings.