I am a 30-year-old woman getting married next summer. My income is much higher than that of my partner. We have no shared assets. A friend has recommended I get a pre-nuptial agreement, in case we ever divorce. Aren’t “pre-nups” meaningless in the UK?

Henry Brookman, founding partner of Brookman Solicitors, says a pre-nuptial agreement would be a good idea because of your greater income. By the time of any divorce, your difference in earnings could translate into a substantial imbalance in your contribution to the collective wealth.

A recent Court of Appeal case, Radmacher v Granatino, fully upheld a pre-nup, so it can no longer be said that they are meaningless. Pre-nups are very common in many countries. The agreements have to be tailormade to individuals’ circumstances. They should consider future situations, such as the birth of children, which is why off-the-shelf pre-nups often fail.

There should be a full disclosure of both your financial situations so that the effect of the proposed agreement can be properly assessed. You will each need your own solicitor.

A crucial dilemma with pre-nups is that it is difficult to walk away from the negotiations if you do not reach an agreement. In a commercial contract, if you do not like the deal presented and you cannot agree a compromise, you can simply not proceed. Your problem will be that you have probably already booked the wedding venue and sent out the invitations. You and your fiancé both need to discuss the issues openly without introducing any ill will.

The pre-nup should be agreed at least three weeks before the wedding and, in practice, the more time before, the better.

Inform taxman of holiday home rent

I have agreed to reduce my working hours for lower pay, to protect my job. To raise extra income, I started renting out my holiday home last winter. I haven’t completed a tax return in the past. Does renting out a property change this?

Francesca Lagerberg, head of tax at accountants Grant Thornton, says a growing number of people are renting out properties that had been used as holiday or second homes.

The rental income is not taxed at source and you should have notified HM Revenue & Customs (HMRC) by October 5 2009 that you need to file a tax return for the 2008/09 tax year. You have missed that deadline and now face a penalty based on the amount of tax due unless you file a return and pay the tax by January 31 2010. You should notify HMRC that you have a tax liability for 2008/09, and it will issue you with a notice to file a return. If this is issued before October 31, you will have three months to file in paper form or until January 31 2010 if you wish to file online. If the notice is issued after October 31, then a return – paper or online – must be filed within three months of the date of the notice.

The tax needs to be paid by January 31 2010 – even if the deadline for filing the return is later.