1. Introduction 1.1 Taxation of Spouses 1.2 Summary of taxes 1.2.1 Income Tax 1.2.2 Capital Gains Tax 1.2.3 Inheritance Tax 1.2.4 Stamp Duty 1.2.5 Council Tax 1.2.6 Value Added Tax 1.2.7 Corporation Tax 1.2.8 National Insurance 2. Taxation of Spouses during Marriage 2.1 Income Tax 2.1.1 Personal Allowances 2.1.2 Joint
The recent announcement at the Labour Party conference by the shadow attorney-general Emily Thornberry MP has re-highlighted the importance of reform of rights of cohabitants. An increasing number of couples are deciding to cohabit rather than enter into a marriage or a civil partnership. According to the Research Briefing published
On 31 October and 1 November 2023, the UK Supreme Court will be hearing the former husband’s appeal in the case of Potanin and Potanina [1]. The appeal will consider in what circumstances it is appropriate for the English family court to allow a former spouse to make an application
Prof David Hodson OBE KC(Hons) MCIArb and renowned legal correspondent Joshua Rosenberg, join Kate Daly of Amicable in The Divorce Podcast to discuss the proposed reform by the Law Commission in respect of financial outcomes on divorce. Specifically to discuss whether 50/50 is a fair way to divide money and
The Child Maintenance Service (CMS) has provided a mechanism for calculating the amount of maintenance payable for children since 2012. Its predecessor, the Child Support Agency, was launched in 1993. Having a method for calculating child maintenance is therefore not a new phenomenon. However, the mechanisms, whilst effective, do have
Many countries across the globe adopt a sharing principle when dividing assets on divorce meaning that the starting point shall be the equal division of any assets generated during a marriage. A marriage in England is regarded as a partnership of equals and therefore the fruits should also be shared
The Duxbury formula seeks to ascertain a capital amount which if invested to achieve capital growth and income yield (both at assumed rates and after tax on the yield and required gains) could be drawn down in equal inflation-proofed instalments over a period of time (often the recipient’s life expectancy) but would be completely exhausted at the end
More and more cases in England and Wales are now dealing with cryptocurrencies, one way or another. Thankfully the English legal profession has been quick to provide a clarification as to the status of the cryptocurrencies under the English law. Perhaps the first logical assumption that would come to mind
On 4 April 2023, The Law Commission announced its next review of the laws that determine how finances are dealt with after divorce and dissolution of civil partnership. This review has been announced 50 years after the passing of The Matrimonial Causes Act 1973 (‘The MCA’) and almost 20 years
The unprecedented rise in the costs of living has impacted many families, in particular those with young children, and none more so than those who are, unfortunately, also separating. The big, bad wolf of this nursery tale is the increase in childcare costs. In his March 2023 budget, the Chancellor
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The International Family Law Group LLP is a limited liability partnership registered in England (company number OC362777) whose registered office is at Octagon Point, 5 Cheapside, St Paul’s, London EC2V 6AA. A list of the members of the LLP is displayed at the above address together with a list of those individuals designated as partners who are not members of the LLP. We are a firm of solicitors practicing in the UK. As solicitors we are authorised and regulated by the Solicitors Regulation Authority (SRA ID: 560727) and are subject to the Solicitors Code of Conduct 2011
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