Personal Finance

Alimony to former wife

I'm separated. How much money can I give my wife annually before part of it becomes taxable.
Thanks.

Segilla Tue 19/08/08 22:58

<< Previous

Next >>

Subscribe to question

Post an Answer

Ethel
Tue 19/08/08
23:41

Are you in America? If so, I have no idea.

If you are in the UK, maintenance is treated as income as is subject to the usual tax rules. Without knowing if she has any other income, it is impossible to say.

Segilla
Wed 20/08/08
07:04

Question Author

Thanks very much Ethel.
I'm in the UK and for the past three or so years the monthly amount has been fixed at £350 as it was believed to be the tax free 'allowance' (Gifts in kind, on top have been for her to deal with).
However, although it was a mountain to climb, your answer has forced me to track down a past Tax Calculation and I see that I get relief on the alimony.
Anyhow I want to increase her income, will declare the amount and so will she - and we'll have to face whatever tax consequences there will be..

Post an Answer

Submit the above question and answers

add to del.icio.us	add to digg	add to furl
add to reddit	add to Technorati	add to Blinklist
add to StumbleUpon	add to squidoo	add to ma.gnolia
add to Cocomment	add to Netscape	add to Fark