Clive Standish, a retired banker, will not have to split a large sum transferred to his wife during their marriage after a unanimous Supreme Court ruling. The court found that the assets were primarily accumulated by Mr. Standish before the marriage. The transfer was made to take advantage of his wife's non-dom tax status, with the intent to reduce inheritance tax for their children. The ruling emphasized that the transfer was primarily to save tax rather than for matrimonial purposes, allowing Mr. Standish to keep the majority of the assets.
The UK's Supreme Court ruled that Clive Standish, who transferred multimillion-pound assets to his wife for tax reasons, can retain the majority share following their divorce.
The justices agreed unanimously that the majority of the money had been acquired by Mr. Standish prior to their marriage, impacting the asset division.
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