The wife’s “wages”: Will tax law follow divorce ruling?
Beverley Charman has agreed that her record breaking divorce settlement of £48 million was a “fair reflection” of her contribution to her 28 year marriage to the self-made millionaire John Charman. The sum, awarded by the Court of Appeal last week is thought to be the highest ever agreed in England, and confirms the UK as the “divorce capital of the world”.
The ruling follows an earlier House of Lords decision whereby family assets should be divided between breadwinner and homemaker on divorce, and may be portentious, by coincidence the tax case of Jones v.
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taxable?
So will HMRC seek to recover tax and NI from her on all those notional wages?