Directors loan of £250,000

[wallop79]

I have applied for a variation and this is when the money went into the business, but as people have still pointed out this is still an asset, he is a multi millionaire and currently paying £9.00 per week maintenance through the csa as when he made the co. ltd he said he is only paying himself £136 per week, he is a skilled electrical engineer with over 30 yrs experience and wouldnt work for £136 per hour never mind per week, it is now going to a tribunal (which takes 6 months!!) and I just wanted to have my facts straight about a few issues which i will need to put into a letter to the tribunal, one of which was the directors loan issue, he is diverting his income to avoid paying maintenance and I will be putting that also into the letter to the tribunal, thanks to all of you for your advise and guidance, it is very much appreciated.

[Mojito]

Lifting the corporate veil

Your application for a variance (presumably SM) along with dubious accounting practices would possibly put a judge in mind to order a "lifting of the corporate veil" which - as far as I am aware - would allow you full access to all the books, records and accounts of said business. Give this to an accountant and an accurate picture of his income & assets could be established for your variance request and also for a revised CM figure. The CM would be good for a year before he could request a review from the CSA.

On a more human note, how can he sleep at night short-changing his children like that?

Edit - this may be of interest:

http://www.familylawweek.co.uk/site.aspx?i=ed32399

[Scrag Meister]

On a more human note, how can he sleep at night short-changing his children like that?

WMS
That is the crux of the matter, the money is to support his children and he doesn't want to. Waster!

[wallop79]

[QUOTE=Mojito;1203246]Your application for a variance (presumably SM) along with dubious accounting practices would possibly put a judge in mind to order a "lifting of the corporate veil" which - as far as I am aware - would allow you full access to all the books, records and accounts of said business. Give this to an accountant and an accurate picture of his income & assets could be established for your variance request and also for a revised CM figure. The CM would be good for a year before he could request a review from the CSA.

On a more human note, how can he sleep at night short-changing his children like that?

he is despicable, especially as he pertains he is a catholic! or so he thinks that going to church once a week makes him one.

[wallop79]

WMS
That is the crux of the matter, the money is to support his children and he doesn't want to. Waster!

I know this is an a contractors forum; but I couldn't agree with you more, he is a waster and my beautiful son and I are better off without him

[MarillionFan]

I know this is an a contractors forum; but I couldn't agree with you more, he is a waster and my beautiful son and I are better off without him

Well good luck.

You seemed to have got the hang of our smileys and quote system incredibly fast. You must be very clever so I have no doubt it will work out. :

[Wodewick]

Well good luck.

You seemed to have got the hang of our smileys and quote system incredibly fast. You must be very clever so I have no doubt it will work out. :

Yeah! Cos CUK is soooooo different from every other forum. No one could possibly get the hang of quotes and smileys within well about 8000 odd posts (and this one was one of your oddest)

[Mojito]

I know this is an a contractors forum; but I couldn't agree with you more, he is a waster and my beautiful son and I are better off without him

Actually I'd disagree - your son is better off with him in his life regardless of what you may think of him. The financial situation is between you and your ex, not him and his son.

[MarillionFan]

Yeah! Cos CUK is soooooo different from every other forum. No one could possibly get the hang of quotes and smileys within well about 8000 odd posts (and this one was one of your oddest)

Good point Drewster.

[Wanderer]

I know this is an a contractors forum

Yes, you are right. This is a contractors forum.

I hope you found the information you were after and good luck with your divorce.