Stephen Woodward gave a one hour webinar on “Tax issues in Family Cases” with Ben Parry-Smith from Payne Hicks Beach for Simon Gore’s company SG Legal Conferences & Online Learning to examine the main tax problems which crop up in family cases.

Agenda

Income tax
• Maintenance payments;
• Interest on late payment of court debts.

CGT

  • The year of separation and the importance of Form E;
  • PPR, the matrimonial home and disposals in connection with divorce;
  • CGT reporting obligations to HMRC from 6 April 2020;
  • Transfer of business assets.

Remittance basis users, or divorces with an offshore background

  • Relevant persons; spouses, ex-spouses and minor children;
  • Income tax and CGT issues for remittance basis users on divorce.

Inheritance tax

  • Transfers between spouses pre Decree Absolute v transfers between ex-spouses post Decree Absolute;
  • Beware the non-UK domiciled spouse;
  • S.10 IHTA and dispositions not intended to confer gratuitous benefit;
  • Schedule 1 Trusts for minors;
  • Mesher and Martin Orders.

SDLT

  • Transfers in connection with divorce

Misc. but important

  • Pension sharing orders;
  • The Proceeds of Crime Act 2002

Stephen Woodward
swoodward@threesone.law

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