What are the tax implications of a no fault divorce?
‘No fault’ divorce went from a legal possibility to a reality in April 2022. Though there have been no connected changes to tax rules, this type of divorce still has financial implications for the divorcees.
Now that ‘no fault’ divorces allow estranged couples in England and Wales to end their marriage without having to assign blame, each person has more time to focus on finances and tax efficiency.
Here’s what you need to know about the tax implications of no fault divorces in England and Wales.