The commentary below discusses the practical considerations in relation to the family business and providing for any children of the relationship on the breakdown of a marriage or civil partnership. For details of the issues in relation to the family home, see E5.116. For the division of accrued pension benefits and insurance policies, see E5.119.
For an overview of the income tax, capital gains tax and inheritance tax implications of a breakdown of a marriage or civil partnership, as well as a summary of the other articles on this subject, see E5.115.
Employment
It is often the case that one spouse or civil partner is employed in a family business owned by their ex-spouse or civil partner, or owned by the family of their ex-spouse or civil partner. When the relationship breaks down, the parties may want any employment to be terminated. Issues will inevitably arise for both the recipient and the business regarding the amount of any employment termination payment and the associated taxation
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