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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Tax

  • lync
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25 Oct 07 #5284 by lync
Topic started by lync
My soon to be ex was self employed for a while and I have recently found out that he did not pay any tax. Since we were still married at the time am I liable for half of this? Please help:(

  • Vail
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26 Oct 07 #5310 by Vail
Reply from Vail
lync,

You could be liable for half the tax in the sense that his tax liability goes into the financial pot and so decreases the amount of his assets. The courts are also part of the government and take a dim view of people not paying tax so you should argue that although the tax (which would have been payed anyway had your stbx been diligent) is a relevant liability, any interest, surcharge, fines and penalties should be borne by him alone.

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26 Oct 07 #5313 by gone1
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Lync. Tax is a debt and it depends when the was acrued. Anything debt after seperation is the persons who run it up resposibility. In other words if you seperate on a momday and on tuesday go and buy 10 new outfits for £1000 each its your debt to service. Its not joint. But debt goes into the pot like Vail said. It lessons his disposable income as he must service this debt. The very good news for you looking forward is that the tax man wont chase you for it. That is good news.

If he had the money and spent it thats asset sheding and looks bad for him. But at the end of the day it all comes down to the judge. Its like fliping a coin or like crap shooting. Very variable. C

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