Work, Life Balance....

[ratewhore]

oooer ! CSA bills ?

Another good reason not to maximise turnover

[kramer]

did you say you were in the middle of a divorce?

[ratewhore]

aye

[ChimpMaster]

RateHo - if you have a Ltd Co and retain most of the funds in the Co until you pay yourself a big dividend, will that still count towards CSA & divorce payments?

[Andyw]

RateHo - if you have a Ltd Co and retain most of the funds in the Co until you pay yourself a big dividend, will that still count towards CSA & divorce payments?

A divorce lawyer and judge will take into account the ltd total turnover (which is a joke) and assess your payments on that, whereas the CSA will base it on paye and dividends.

Been there done that.

[ratewhore]

A divorce lawyer and judge will take into account the ltd total turnover (which is a joke) and assess your payments on that, whereas the CSA will base it on paye and dividends.

Been there done that.

Thats not the advice I've been given - but then, I'm not in court til next month. As my ex wants a chunk of the cash in the business, I've been working part time to reduce it, and , to be fair, I've been pretty successful in doing that. Part time work has also suited my work-life balance, which is where this thread started.

In terms of turnover, the advice I've been give is that, as turnover is not guaranteed (as is the case with inheritance for example), it cannot be taken into account.

Trouble with the courts of course, is it all depends on the mood of the judge. Time will tell...

[Andyw]

Thats not the advice I've been given - but then, I'm not in court til next month. As my ex wants a chunk of the cash in the business, I've been working part time to reduce it, and , to be fair, I've been pretty successful in doing that. Part time work has also suited my work-life balance, which is where this thread started.

In terms of turnover, the advice I've been give is that, as turnover is not guaranteed (as is the case with inheritance for example), it cannot be taken into account.

Trouble with the courts of course, is it all depends on the mood of the judge. Time will tell...

I see your method here but it wont fool the judge. I bet her lawyer has mate you out to be an ogre and already the judge will hate your guts without even meeting you. He will see through your plan and even though you have reduced the savings, (and increasing your income tax burden) he will be made aware of your earnings potential and set a figure based on that. The best thing is to agree with whatever the kurb crawler says and then fiddle it through the CSA as they have the power to overturn court decisions. Dont throw too much money at lawyers though as it's dead money and wont make any diff to the outcome.

[expat]

I see your method here but it wont fool the judge. I bet her lawyer has mate you out to be an ogre and already the judge will hate your guts without even meeting you. He will see through your plan and even though you have reduced the savings, (and increasing your income tax burden) he will be made aware of your earnings potential and set a figure based on that. The best thing is to agree with whatever the kurb crawler says and then fiddle it through the CSA as they have the power to overturn court decisions. Dont throw too much money at lawyers though as it's dead money and wont make any diff to the outcome.

It might be best if your lawyer were female.

[ratewhore]

she is - with a huuuge rack ...

[kramer]

are you lookin forward to a single life of hookers and strip clubs?