Contractor Ltd Co and divorce

[Underscore Pt2]

You 100% do not want your ex involved in any of you financial affairs moving forward.

Simply put go for a 50/50 split of all current assets. Then agree child care and monthely maintenance (pay what you can honestly afford for the children)

Then join a dating website and s**g as many women as you can!

[BrilloPad]

You 100% do not want your ex involved in any of you financial affairs moving forward.

Simply put go for a 50/50 split of all current assets. Then agree child care and monthely maintenance (pay what you can honestly afford for the children)

Then join a dating website and s**g as many women as you can!

Due to the children it is more likely to be a 70/30 split. Plus spousal maintenance. Plus childcare of 25% of takehome. Plus solicitors fees. Plus arm or leg.

The OP will not be thinking about sex for a long while .....

[Underscore Pt2]

Due to the children it is more likely to be a 70/30 split. Plus spousal maintenance. Plus childcare of 25% of takehome. Plus solicitors fees. Plus arm or leg.

The OP will not be thinking about sex for a long while .....

The default is 50/50 now. Kids doesnt matter unless he isnt going to pay child maintenance. Spousal maintenance will only be for a period of time for her to get used to the change in income....normally 6 months. An asset split of 50/50 is a strategy that almost all judges will go for.

[iwantone]

Due to the children it is more likely to be a 70/30 split. Plus spousal maintenance. Plus childcare of 25% of takehome. Plus solicitors fees. Plus arm or leg.

The OP will not be thinking about sex for a long while .....

...Just out of interest does anyone know for sure the rules around what the CSA uses for the income. I was under the impression its gross income now rather than net, and I'd assume gross profit ...but does that mean profit after all expenses, and is it before or after corporation tax.

Also a little worrying that there is no provision made for gaps between contracts, with that in mind is there a legitimate expensable means for providing protection between contracts ?

[BrilloPad]

The default is 50/50 now. Kids doesnt matter unless he isnt going to pay child maintenance. Spousal maintenance will only be for a period of time for her to get used to the change in income....normally 6 months. An asset split of 50/50 is a strategy that almost all judges will go for.

First priority is for the kids to be housed. The default always was 50/50.

[Mojito]

move from 50/50 - affect on SM?

Brillo - surely a move from 50/50 in favour of the STBX can be used to 'buyout' Spousal Maint and achieve the clean-break?

Not sure if thats the norm, but thats how my divorce went (although more like 80/20!!), so I pay my (well over the CSA calculator figure) CM each month for my kids and SFA for the ex.

[BrilloPad]

Brillo - surely a move from 50/50 in favour of the STBX can be used to 'buyout' Spousal Maint and achieve the clean-break?

Not sure if thats the norm, but thats how my divorce went (although more like 80/20!!), so I pay my (well over the CSA calculator figure) CM each month for my kids and SFA for the ex.

I prefer BFH to STBX.

Every case is different. Personally mine was 70/30 and I paid for kids (until I got them full time - 1 day after the settlement was made). I also paid spousal maintenance.

But I never wanted the money - only the kids.

Only one thing is consistent - the family law courts are secret, sexist and very very bad for children.

[MPwannadecentincome]

...Just out of interest does anyone know for sure the rules around what the CSA uses for the income. I was under the impression its gross income now rather than net, and I'd assume gross profit ...but does that mean profit after all expenses, and is it before or after corporation tax.

Also a little worrying that there is no provision made for gaps between contracts, with that in mind is there a legitimate expensable means for providing protection between contracts ?

I was told that it would be based on annual income as per income tax return - can't remember where I found that out.

[BrilloPad]

I was told that it would be based on annual income as per income tax return - can't remember where I found that out.

That is good as you can keep money in your limited company.

[MaryPoppins]

I was told that it would be based on annual income as per income tax return - can't remember where I found that out.

Yes. I was of the understanding [although this is going back 4 yrs] that the CSA calculation is something like 15% of the full income of all types, i.e. salary & dividends as per your accounts. In reality this adidn't appear to be the case; only salary was taken into account in my case, despite the variation requested.

I don't think they're allowed to take things like Directors Loans into account.

I hope things start to feel easier for you soon.