Divorce

Financial Divorce Advice

We advise on the tax and technical implications of proposed settlements and how they can be actioned out effectively.

Other Accounting Services

Divorce Tax Advice

When it comes to divorce tax advice we will help your solicitor regarding the financial aspects of the divorce. In some cases, we are jointly appointed by both parties to report. The divorce process is usually controlled by a solicitor and we work with a number of local firms that specialise in divorce.

We also are qualified financial mediators, offering alternative dispute resolution (ADR), as an alternative to going to court. Again, in a divorce, we assist your solicitor in that process.

Our divorce tax advice will help to separate couples to identify:

What assets each party has and whether there are any undisclosed assets
What the assets are worth, especially business interest
How much tax would be payable if the assets were to be sold at valuation
How these assets are split between them
The liabilities they each have. For example, are their tax affairs up to date
The levels of current income and future income that they each earn or receive
The expected living costs

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Bobbi-Jo has been truly exceptional, going above and beyond to ensure our requirements are met, often working tirelessly — including long hours — to deliver accurate, timely, and thorough results. Her attention to detail, responsiveness, and commitment to supporting our business make a real difference, particularly in navigating complex matters.
I would also like to highlight the excellent work and support of Robin John and Emma Green, who have been consistently thorough, reliable, and professional, providing valuable insights and guidance in both audit and tax-related areas. Together, the Wellden Turnbull team has provided not only technical excellence but also trusted partnership and strategic support.
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Taxation

We can review both parties’ tax affairs bringing tax matters up to date as necessary.

Negotiation

Various scenarios may be proposed for a settlement in a divorce and where a couple’s affairs are complex, each option may have different outcomes for tax. We can advise on these as discussions progress.

Sometimes one party is concerned that the other is not fully disclosing their assets and we can investigate to assess the true state of affairs.

Where there are businesses the value of the business needs to be ascertained. We carry out a share or business valuation taking into account the value of the business to the owner given that it is not likely to be sold during the course of the divorce. We would normally be jointly appointed by both parties and the court to carry out this process.

Where there is a portfolio of stocks and shares there may be unrealised gains and losses and we calculate the capital gains tax arising on the adoption of the valuation used in the settlement. We can advise on the tax and technical implications of proposed settlements and how they can be actioned out effectively.

Settlement

We can advise on:

Where one partner leaves the marital home how do we preserve the Principal private residence relief in the family home
The stamp duty payable and stamp duty land tax and where assets are transferred between divorcing parties
How to pay maintenance tax efficiently. You don’t usually get tax relief for maintenance payments to an ex-spouse
Transferring assets in the year of separation and the capital tax consequences
The tax consequences arising out of UK and offshore trusts
Settling trusts (for example for children of the marriage) as part of a divorce settlement
Dealing with businesses, homes and other assets situated abroad
Advising non-resident and non-UK domiciled parties
Life after divorce
We can assist with tax returns and other financial advice.

Get Expert Divorce Tax Advice

Divorce settlements can be complex, and the tax implications are often overlooked until they become a costly issue. Our expert divorce tax advisors ensure that settlements are structured efficiently to protect both parties from unnecessary tax liabilities.

Have a question?

You can get in touch with our team in either of our offices, or fill out the form on our Contact Us page

Surrey

01932 868444

London