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Sofia Thomas

Sofia Thomas

Sofia Thomas is co-author of Tax Implications on Family Breakdown and a leading expert in tax on divorce and separation. Sofia is a Fellow of the Ch...

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Money Corner: New Tax Landscape for High Net Worth Divorces

Money Corner: New Tax Landscape for High Net Worth Divorces

The dust has (almost) settled following the Autumn Budget and April 2025 will bring about one of the biggest overhauls of the way the UK taxes foreign individuals in decades. This piece covers the changes to the non-domicile (non-dom) regime and the other smaller measures announced in the budget that

Stamp Duty Land Tax and Divorce

Stamp Duty Land Tax and Divorce

This is sometimes the forgotten tax on divorce. Maybe this is fair enough as there is a pretty clear exemption in tax law that states that stamp duty land tax (SDLT) will not apply to transfers pursuant to divorce. However, the last few years have seen the introduction of two

Implications of the Changing Non-domicile Regime

Implications of the Changing Non-domicile Regime

On 6 March 2024, the Government announced a major overhaul of the regime for the taxation of non-doms in the United Kingdom (UK). These changes will impact all high net worth UK residents whose domicile for tax purposes is outside the UK (‘non-doms’) but may have a particularly significant impact

Budget Implications for Financial Remedies

Budget Implications for Financial Remedies

It was a relatively quiet budget yesterday in terms of the changes that will impact financial remedy proceedings. The main headlines are the pension changes and the confirmation that the new CGT rules for divorcing couples, which look set to come in from 6 April 2023. This short blog summarises

Cryptocurrency and Taxation

Cryptocurrency and Taxation

This blog post aims to highlight some of the tax considerations in ‘crypto cases’. It hopefully acts as a complementary piece to the article by Ben Fearnley which provides a comprehensive overview of what cryptoassets are, how they are held and the particular issues of cryptoassets when they arise in

Fiscal Event Update

Fiscal Event Update

https://www.gov.uk/government/publications/the-growth-plan-2022-documents On 23 September 2022 Chancellor of the Exchequer, Kwasi Kwarteng, held a fiscal event where he announced his new Growth Plan for the UK.[[1]] The Institute of Fiscal Studies have said the measures announced represent the biggest tax cut of any budget

Major tax changes for divorcing couples

Major tax changes for divorcing couples

Yesterday (22 July 2022) the government released draft legislation which will change the capital gains tax position for divorcing couples. At the moment the legislation is in draft form and is subject to changes, however, the proposed implementation date is 6 April 2023 and we do not anticipate any major