Hi all,
Noob here in need of some advise.
Sequence of events:
1) Divorce proceeding started. At this point I'm a permanent employee.
2) A few months later - I lost my job.
3) Formed a limited company (as the sole director) and started contracting
4) The limited company has been earning money, but I have not drawn a salary to date.
Divorce still not finalised.
My concern is, where do I stand in terms of:
a) Can the other half get claim share of the company's earnings?
b) Yet to draw a salary, what do I declare as my income?
c) How does the company's earnings reflect on my earning potential (for child maintenance or how the court will use this to split current assets)?
d) Any related advise appreciated.
Cheers
Noob here in need of some advise.
Sequence of events:
1) Divorce proceeding started. At this point I'm a permanent employee.
2) A few months later - I lost my job.
3) Formed a limited company (as the sole director) and started contracting
4) The limited company has been earning money, but I have not drawn a salary to date.
Divorce still not finalised.
My concern is, where do I stand in terms of:
a) Can the other half get claim share of the company's earnings?
b) Yet to draw a salary, what do I declare as my income?
c) How does the company's earnings reflect on my earning potential (for child maintenance or how the court will use this to split current assets)?
d) Any related advise appreciated.
Cheers
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