The ruling upholds a Court of Appeal decision that significantly reduced Mrs Standish’s award, providing new clarity on the division of assets linked to tax planning schemes.

The dispute centred on approximately £77m of assets transferred by Mr Standish to his wife in 2017. Facing a potential inheritance tax bill of around £32m, Mr Standish was advised to move the assets to his Australian-born wife, who was non-domiciled in the UK for tax purposes. The plan required her to place the assets into a trust, a step she never took before commencing divorce proceedings, City AM reports.

In 2022, the Family Court initially deemed the assets to be matrimonial property, awarding Mrs Standish £45m. However, the Court of Appeal later overturned this, ruling that the assets were not matrimonial in nature as they were transferred solely for tax planning. It reduced her total award by 40% to £25m, a decision Mrs Standish unsuccessfully sought to challenge at the Supreme Court.