Expert
Witnesses –
Divorce
At Bracey’s we offer specialised tax guidance to couples undergoing divorce to assist in ensuring a fair and tax-efficient division of assets.
Navigating Divorce Tax Implications
Navigating a divorce involves not just a significant emotional toll but also potentially complicated financial considerations that can impact your future. When untangling the complexities of the situation, it’s easy to overlook the potentially significant tax implications involved.
What Are the Implications of Divorce on Tax?
Marriage has a number of tax benefits, which on divorcing, a couple are no longer entitled to. Government legislation provides some exemptions and understanding the rules here is vital to avoid incurring unwanted tax bills.
Capital Gains Tax (CGT): Timing matters when transferring assets between spouses, with partners needing to have lived together within the last three years for a transfer of assets or funds to be exempt. Seek early advice to mitigate CGT liabilities and optimise asset distribution. In a divorce situation the accountant should analyse potential CGT implications to assist in ensuring a fair asset division.
Income Tax Considerations: Anticipate tax consequences of asset transfers and maintenance payments to avoid surprises. An accountant can provide comprehensive guidance on income tax implications, helping both parties to make informed decisions during divorce proceedings.
Bracey’s Services
Divorce can significantly affect your financial future. Choosing Bracey’s means partnering with a team that is committed to protecting your financial interests during and after the divorce process. Working as partners, we will help to anticipate and address tax implications early in the process for a smoother transition.
Our proactive approach will help you navigate tax complexities with confidence and peace of mind. Our accountants blend meticulous financial scrutiny with compassionate service, understanding the emotional weight of the decisions being made.
If you’d like to learn more about how Bracey’s can help you and your business we offer a free 30-minute consultation for us to better understand your situation. This 30-minute free online consultation gives you time to let us know more about your needs to see if our services are right for you.
ATOL Reporting Accountant (ARA)
Bookkeeping and Payroll
Business Planning
Management Accounts
Medical Accountancy
Start-up Services
Statutory Accounts
ATOL Reporting Accountant (ARA)
As an ATOL registered business, you are required to appoint an ARA to sign off your annual license renewal.
Bookkeeping and Payroll
A fully managed bookkeeping and payroll service tailored to your needs allowing you the time to concentrate on running your business.
Business Planning
Whether you are a start-up or an established business, you should have a plan. Our business planning service works with you to put together the financials to help you navigate through the business life cycle and ensure you stay on target for your future goals.
Management Accounts
Empowering businesses to gain detailed insights into their financial position and give a business the power of being able to make informed strategic decisions.
Medical Accountancy
We are specialist Medical Accountants, serving happy GP practices, locums, hospital consultants, and other health professionals for over 10 years.
Start-up Services
Our tailored support package will guide you through the start-up phase of your new business.
Statutory Accounts
A comprehensive service for compliant statutory accounts to meet your annual filing obligations to HMRC and Companies House.