Tax Implications on Family Breakdown

Taxation › U.K.

Tax Implications on Family Breakdown

Edited by Sofia Thomas · James Pirrie
Bloomsbury Professional (formerly Tottel Publishing) June 2020

Specifications

ISBN-13
9781526512345
Publisher
Bloomsbury Professional (formerly Tottel Publishing)
Publication
June 2020
Format
Paperback
Jurisdiction
U.K. ? Countri(es) for reference only
Price on request
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Details

This new text focusses on tax issues that arise upon family breakdown or financial remedies proceedings.

As the family structure is evolving this book is a guide which considers the tax impact of both nuclear traditional breakdowns and alternative families including LGBT+ families and those who are separating with children born outside of a marriage. It breaks down the complex information on law and practice by providing family law and tax professionals with sections which they can dip in to as required. It also includes flow charts and checklists so practitioners can offer comprehensive advice to their clients.

Table of Contents

  1. General Principals in Financial Remedy Proceedings
  2. Introduction
  3. Powers of the Court
  4. Specialist Financial Remedies Court across England and Wales
  5. Matrimonial and non-Matrimonial Property
  6. Deferred Settlements
  7. General Tax Principals and HMRCs Powers
  8. Responsibilities of taxpayer
  9. Taxable events
  10. HMRCs current powers
  11. HMRCs proposed new powers
  12. Taxpayer safeguards and access to justice
  13. Spouses, Civil Partners and Cohabitees
  14. Tax treatment during marriage & civil partnerships
  15. Capital Gains Tax treatment
  16. Married couples' allowance
  17. Joint universal credit claims
  18. High Income Child Benefit Charge
  19. Division of property income
  20. Small companies, division of dividends
  21. Tax treatment during cohabitation
  22. Property income
  23. International Matters
  24. Jurisdiction of UK Taxes
  25. Residence and non-Residence
  26. Statutory Residents Test
  27. Taxation of non-residents
  28. Limitation of CGT relief for non-residents
  29. Impact of (ex)spouse becoming non resident
  30. Domicile
  31. Spousal domicile election
  32. Offshore structures
  33. Maintenance payments from offshore
  34. Offshore reporting obligations
  35. Treatment of maintenance payments internationally
  36. Capital Gains Tax
  37. General Principles
  38. Year of separation
  39. The family home
  40. Default treatment
  41. Principal private residence relief
  42. Periods of absence
  43. Elections
  44. Deferred Charges & Mesher Orders
  45. Entrepreneurs Relief
  46. Investment Portfolio
  47. Holdover Relief
  48. Family Companies
  49. Tax considerations in unlocking assets
  50. Valuations for family courts
  51. Valuation of shares for HMRC
  52. Attaching maintenance to dividends
  53. Winding up/cessation of trade
  54. Alternative/LGBT+ Family Breakdown
  55. Domicile of children from same sex families
  56. Legacy issues
  57. Legal of status of children prior to civil partnerships/marriage
  58. Maintenance and secured maintenance
  59. Types of maintenance
  60. Maintenance payments
  61. Secured maintenance
  62. Instructing an expert for solicitors
  63. When to appoint an expert and why
  64. What to expect from a tax expert
  65. Reading the report
  66. Responding to expert instructions from solicitors
  67. What to expect from an instruction
  68. What to include in the report
  69. Supporting Materials
  70. CGT in divorce – flowchart
  71. Capital Gains Tax on the Main home – flowchart
  72. Stamp duty land tax – flowchart
  73. Determining date of separation – flowchart
  74. Annotated Form E –highlighting common tax traps
  75. International Divorces – Checklist
  76. Capital Gains Tax matters on Divorce – Checklist
  77. Transfer or Sale of the main home – Checklist
  78. Transfer of assets – Checklist
  79. Family Companies – Checklist
  80. Alternative/LGBT+ Family Breakdown – Checklist
  81. Instructing an expert – Sample Letter
Price on request
New Edition is available now !
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  • International shipping to 35+ countries
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