The Tax Implications on International & High Net Worth Divorce

Introduction

From 6 April 2023, the tax implications of transferring assets between couples as part of the financial settlement on divorce changed significantly. The new rules have introduced a simpler, less pressurised opportunity to transfer assets without any immediate tax liabilities, but is it equitable?

This webinar will set out why the new rules may be fairer, but not necessarily beneficial as we look at the implications of passing inherent gains from one party to the other. In addition, focus will be on the importance of ensuring tax is considered when one or both parties are not resident or not domiciled in the UK.

What You Will Learn

This webinar will cover the following:

• Overview of the pre-6 April capital gains tax rules on transferring assets on divorce and separation and comparison with the new post 6 April capital gains tax rules
• Highlighting additional considerations when transferring assets with inherent gains
• Understanding the implications of transferring interests in the family home, from deferred charges and Mesher orders to ‘bird-nesting’ arrangements
• Overview of considerations when transferring second homes and investment properties
• Understanding domicile and the importance of timings when transferring offshore assets and other matters affecting non-UK domicile parties
• Considerations when one party moves overseas
• Overview of making provisions for tax risk

This webinar was recorded on 10th November 2023

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