Getting divorced? Here's how to make sure you don't get stung by the taxman

Many couples divorce in January. But if you do decide to separate from your spouse, don’t get caught out by HMRC.

It will soon get easier to get rid of your spouse
(Image credit: Getty Images)

The first Monday of the year is known as “Divorce Day”. Solicitors returning to their desks after the Christmas break find they have a deluge of enquiries from people wanting to end their marriage. The festive period, and all the family tension it can entail, often proves the final straw.

However, if you are planning to end your marriage, you may want to hang on until April, says David Byers in The Sunday Times. “Timing is everything… if you want to separate, when should you do so without incurring a whopping tax bill?”

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.