Reliable financial information is essential when participants want to discuss property, maintenance, pensions or the division of assets. Each person must provide full and frank disclosure of all information material to the financial issues being mediated. is to create a clear and balanced financial picture. Documents should cover assets and liabilities held individually, jointly with the other participant or jointly with another person.
Income and employment records
Employed participants will commonly need recent payslips and their latest P60. A current employment contract may be relevant where remuneration includes bonuses, commission, share options, allowances or other benefits.
Evidence should reflect the complete remuneration package rather than basic salary alone. Recent bonus statements, benefit summaries or employer correspondence may be required when income varies throughout the year.
Self-employed participants may need to provide recent tax calculations, tax returns, business accounts and evidence of drawings or dividends. If income has changed significantly, a short explanation and supporting records can help both participants understand the current position.
Documents could include:
- Recent payslips.
- The latest P60.
- Employment contracts or remuneration statements.
- Evidence of bonuses, commission and benefits.
- Self-assessment tax returns and tax calculations.
- Recent business accounts.
- Evidence of Universal Credit, pensions or other benefits.
- Details of maintenance received from a previous relationship.
These records should cover a sufficient period to show whether income is stable, seasonal or variable.
Bank accounts, savings and investments
Statements should be provided for all personal and joint bank accounts, including accounts that are rarely used. Savings accounts, building society accounts, ISAs and online payment accounts may also form part of the disclosure.
A current balance by itself may not provide enough information. Transaction histories can help explain changes in savings, regular expenditure and transfers between accounts. Your mediator will confirm the period that the statements should cover.
Investment portfolios require current statements or valuations. Shares, bonds, funds, cryptocurrency and other investments should be identified, even when they are held through an online platform or outside the United Kingdom.
Any money held on behalf of another person should be explained clearly. The same applies when another person holds funds that belong wholly or partly to one of the participants.
Property and mortgage documents
For every property interest, we usually need the address, ownership details, estimated value and outstanding borrowing. This applies to the family home, rental properties, holiday homes, land and overseas property.
A recent mortgage statement should show the outstanding balance and relevant account details. An up-to-date valuation may be provided by an estate agent, surveyor or another agreed professional, depending on the circumstances.
Useful records include:
- Land Registry documents or title information.
- Recent mortgage statements.
- Property valuations.
- Details of secured loans.
- Tenancy agreements and rental income records.
- Evidence of service charges or ground rent.
- Information about early repayment charges.
- Documents relating to overseas property.
Where participants disagree about value, they can discuss obtaining a joint independent valuation. Using a single agreed source can reduce conflicting evidence and keep the process proportionate.
Pensions and retirement benefits
Pensions can represent a substantial part of the family’s wealth, even when retirement is many years away. Every workplace, private and public-sector pension should be identified.
A recent Cash Equivalent Transfer Value is commonly requested for defined contribution and defined benefit schemes. State Pension forecasts and details of pensions already in payment may also be relevant.
Some schemes require specialist analysis because their benefits cannot be understood from a headline valuation alone. Public-sector, armed forces, police, NHS and final salary schemes are examples where independent pension advice may be appropriate.
The mediator remains impartial and cannot advise either participant on which pension settlement they should accept. We can identify information gaps and support discussions, while each person can obtain independent legal or financial advice where needed.
Debts, loans and credit commitments
A complete financial picture includes liabilities as well as assets. Credit cards, personal loans, overdrafts, vehicle finance, tax liabilities and money owed to relatives should all be recorded.
Statements should show the current balance, monthly payment, interest rate and remaining term where this information is available. Participants should explain whether a debt was incurred for individual, family or business purposes.
Disagreement about who created a debt does not mean it should be omitted. The liability should first be identified and evidenced. Participants can then discuss how it should be treated within the overall settlement.
Potential documents include:
- Credit card statements.
- Personal loan agreements.
- Vehicle finance agreements.
- Overdraft statements.
- Student loan information.
- Tax demands or repayment plans.
- Evidence of money borrowed from relatives.
- Details of personal guarantees for business borrowing.
Recent changes should be explained, particularly if substantial borrowing has occurred since separation.
Business interests, trusts and other assets
Company owners, partners and shareholders may need to supply accounts, tax returns, shareholder agreements and recent management information. The purpose is to understand the participant’s interest, the income received and the potential value of the business.
This does not always mean that a company must be sold or divided. The documents allow informed discussions about how the business fits within the family’s wider financial position.
Trust interests, valuable collections, vehicles, jewellery, artwork and other significant assets should be declared. HM Courts and Tribunals Service guidance for financial proceedings also refers to providing details of valuable personal belongings. If the evaluation is complex, participants may agree to instruct an independent expert. The scope and cost of that work should be proportionate to the value of the asset and its importance to the settlement.
Household spending and future financial needs
An income and expenditure schedule helps show what each household currently spends and what may be needed after separation. Figures should be realistic and supported where possible.
Bank statements, utility bills, council tax records, insurance premiums and childcare invoices can help verify regular commitments. Future costs may differ from current spending, particularly when one household is becoming two.
Consider including:
- Housing and mortgage or rental costs.
- Council tax and utilities.
- Food and household essentials.
- Transport expenses.
- Insurance policies.
- Childcare and school-related costs.
- Healthcare expenses.
- Debt repayments.
- Reasonable personal expenditure.
The purpose is not to account for every small purchase. It is to create a credible budget that supports informed discussions about housing, affordability and maintenance.
