Hi,
My wife and I have decided to apply for divorce by mutual consent.
We have a flat which hasbeen purchased jointly and is in both names.
As part of the settlement she has suggested the following:
- In the relinquishment deed we mention that i gift her my share in the flat
- In the consent terms, there will be no mention of the flat, but the amount that she has agreed to pay will be shown as if she is makin a payment to me in settlement for divorce.
I would like to know the tax implications if i accept this arrangement.
