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Tax and Family Breakdown

Tax and Family Breakdown A Practical Guide

Author: Jason Lane
Publisher: Law Society Publishing
ISBN: 9781853286148
Published In: August 2010
Format: Paperback , 224 pages
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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The division of assets following a family breakdown can often be complex. The tax consequences of a transfer of assets between former spouses or civil partners can be significant. With prior planning, the tax arising may be mitigated or avoided altogether. If this is not possible, the parties and, indeed, the court will want to take account of the tax consequences when considering the terms of a financial settlement.

Practitioners providing family breakdown advice will find this to be an invaluable guide to the tax issues. Tax and Family Breakdown:

enables practitioners to identify potential tax issues at an early stage of the divorce or dissolution process
acts as an aide memoire of the tax issues that can typically arise
outlines the basic tax treatment of spouses, civil partners, and co-habitees
examines the tax effects of transferring the most commonly held assets such as:
cash
chattels
the family home
other property
investments
business assets
provides an overview of the tax aspects of trusts and certain international matters in the context of family breakdown.

The text includes worked examples, checklists, tables and flowcharts, making this a clear and user-friendly book.

1. A tax perspective on financial settlements;
2. Capital Gains Tax;
3. Inheritance tax;
4. Transfer of assets;
5. Maintenance and secured maintenance;
6. Interests in land and property;
7. Stamp duty and stamp duty land tax;
8. Unlocking assets on divorce;
9. The international dimension;
10. Tax aspects in valuing companies;
11. Trusts; Appendices.

Jason Lane is a tax partner at Saffery Champness, a top 20 firm of chartered accountants. He advises on all aspects of private client tax, particularly those with substantial financial assets and diverse business interests. He regularly acts as an expert witness in ancillary relief proceedings and has given evidence before the Courts. Jason also presents seminars on essential tax issues for family practitioners.

"Within 300 succinct pages, you have access to authoritative specialist advice...a wealth of expertise in one handy volume."

Phillip Taylor, Richmond Green Chambers