Tax Implications on Family Breakdown
Tax Implications on Family Breakdown
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Author(s): Thomas, Sofia
ISBN No.: 9781526512345
Pages: 424
Year: 202006
Format: Trade Paper
Price: $ 179.40
Dispatch delay: Dispatched between 7 to 15 days
Status: Available

- General Principals in Financial Remedy Proceedings- Introduction- Powers of the Court - Specialist Financial Remedies Court across England and Wales- Matrimonial and non-Matrimonial Property- Deferred Settlements - General Tax Principals and HMRCs Powers - Responsibilities of taxpayer - Taxable events- HMRCs current powers- HMRCs proposed new powers - Taxpayer safeguards and access to justice - Spouses, Civil Partners and Cohabitees - Tax treatment during marriage & civil partnerships- Capital Gains Tax treatment - Married couples' allowance- Joint universal credit claims- High Income Child Benefit Charge - Division of property income- Small companies, division of dividends - Tax treatment during cohabitation - Property income - International Matters- Jurisdiction of UK Taxes- Residence and non-Residence- Statutory Residents Test- Taxation of non-residents - Limitation of CGT relief for non-residents- Impact of (ex)spouse becoming non resident - Domicile - Spousal domicile election - Offshore structures - Maintenance payments from offshore - Offshore reporting obligations- Treatment of maintenance payments internationally- Capital Gains Tax - General Principals - Year of separation- The family home- Default treatment- Principal private residence relief- Periods of absence- Elections- Deferred Charges & Mesher Orders- Entrepreneurs Relief - Investment Portfolio- Holdover Relief - Family Companies - Tax considerations in unlocking assets - Valuations for family courts- Valuation of shares for HMRC - Attaching maintenance to dividends - Winding up/cessation of trade- Alternative/LGBT+ Family Breakdown - Domicile of children from same sex families - Legacy issues - Legal of status of children prior to civil partnerships/marriage- Maintenance and secured maintenance - Types of maintenance- Maintenance payments - Secured maintenance- Instructing an expert for solicitors - When to appoint an expert and why?- What to expect from a tax expert- Reading the report- Responding to expert instructions from solicitors - What to expect from an instruction- What to include in the report- Supporting Materials - CGT in divorce - flowchart- Capital Gains Tax on the Main home - flowchart- Stamp duty land tax - flow chart - Determining date of separation - flow chart - Annotated Form E -highlighting common tax traps- International Divorces - Checklist - Capital Gains Tax matters on Divorce - Checklist- Transfer or Sale of the main home - Checklist - Transfer of assets - Checklist- Family Companies - Checklist - Alternative/LGBT+ Family Breakdown - Checklist- Instructing an expert - Sample Letter.


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