Whilst tax is unlikely to be something you want to think about when going through a divorce process, it is an important aspect to consider, particularly if you need to finance an immediate tax charge. Understanding the tax cost of assets received and the availability of reliefs is also important.
Divorce solicitors should ensure all assets and liabilities are itemised. Not all assets may be obvious from the outset, particularly those that do not cover your current outgoings. If you factor in business assets or unusual tax structures, the tax picture can become complicated.
At EAG Tax we can help you understand the overall position and implications of new asset income streams, whilst highlighting future tax exposure.
Useful links: