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Sam, Accountant
Category: UK Tax
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In May 2014 I paid £90000 as a divorce settlement to my ex

Customer Question

In May 2014 I paid £90000 as a divorce settlement to my ex -wife. The decree absolute came thru in October 14. I bought her out of the family home by re-mortgaging and selling a stocks and shares ISA.
Should she of paid tax on this lump sum and should she be paying income tax on the £825 pcm child maintenance that I pay every month.
Submitted: 1 year ago.
Category: UK Tax
Expert:  Tony Tax replied 1 year ago.

How long before you bought out your wife's share of the marital home did she leave it? Was her share included in the payment of £90,000 or was the £90,000 figure set as a general divorce settlement payment?