The latest figures from the Law Society reveal that more than 12,000 new divorce applications have been filed since the ‘no-fault’ divorce came into effect in April 2022, nearly double the number of applications in April 2021.

From April 2022, the Divorce, Dissolution and Separation Act 2020 has reformed the divorce process to remove the concept of fault. Couples are now able to apply for divorce without having to prove fault, ending the blame game and allow divorcing couples to focus on key practical decisions regarding their children, finances and the future.

However, as with any financial relationship, it is important to consider the tax implications and how to minimise tax liability.