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.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Directors loan of £250,000
Collapse
X
-
-
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=ed32399Last edited by Mojito; 29 September 2010, 21:44.Comment
-
Originally posted by Mojito View PostOn a more human note, how can he sleep at night short-changing his children like that?
That is the crux of the matter, the money is to support his children and he doesn't want to. Waster!Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.Comment
-
[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.Last edited by wallop79; 30 September 2010, 18:33.Comment
-
Originally posted by Scrag Meister View PostWMS
That is the crux of the matter, the money is to support his children and he doesn't want to. Waster!Comment
-
Originally posted by wallop79 View PostI 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
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. :What happens in General, stays in General.You know what they say about assumptions!Comment
-
Originally posted by MarillionFan View PostWell 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. :Jim is a Jedi! - Dara
Jim is EVIL! - Jenny EclairComment
-
Originally posted by wallop79 View PostI 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 himComment
-
Originally posted by Wodewick View PostYeah! 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)What happens in General, stays in General.You know what they say about assumptions!Comment
-
Originally posted by wallop79 View PostI know this is an a contractors forum
I hope you found the information you were after and good luck with your divorce.Free advice and opinions - refunds are available if you are not 100% satisfied.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment