Upper Tribunal Hearing - CSA

[Wanderer]

A question arises; is company money your money or the companies ? In some cases it appears to be the former, which surprised me.

It makes sense to me. If there are multiple directors/shareholders then it's more complex, as is the case where the company has substantial amounts tied up in business assets and/or goodwill but in the typical case of a contractor running a personal service company where they are the sole director and shareholder, the company's money (less liabilities) effectively is the director's money.

A limited company is a great trading structure to ring fence our liability but looking the other way, it doesn't ring fence cash or assets making them untouchable by the courts. And rightly so too...

[NotAllThere]

There is definitely a legal and accounting side to this.
...

Agreed. The post stays here.

[c_breeze]

Legal + Accounting

There is definitely a legal and accounting side to this.

At the 1st tier trib, along with the judge was an accountant, who scrutinized my year end accounts and company bank statements... Expenses were questioned quite closely too.

A question arises; is company money your money or the companies ? In some cases it appears to be the former, which surprised me. The hard part is understanding how money in your company, which hasn't had tax paid on it, or deductions factored in can all be lumped together and classed as your income. This is very much against how I thought company law worked.

There is also the question of assets; where is the dividing line between your own personal assets, ie saving in your name and the assets of your company, it appears both are seen as your assets and so can be bundled together. As I understand it the thinking is company assets are your assets because the company cannot exist with out you...

BB

[BrilloPad]

Erm, wouldn't this be a better question for a parenting website or mumsnet or something???

mumsnet would hang him by the balls.

c_breeze did pm me first - but alas I have no experience of csa tribunals.

bearing in mind that he is asking about dividends then there is a good chance someone here will have had experience.

about a year ago I had lots of triathlete questions. I posted a thread and got 2 replies pointing me towards specific sites.

if you want to reply could you do it in general please? or do it at 2pm on Monday when the OP will be seen by more posters.

[northernladuk]

Maybe these people can help?

Homepage

[northernladuk]

Erm, wouldn't this be a better question for a parenting website or mumsnet or something???

[c_breeze]

Hi ...

Does anyone have any experience of attending an Upper Tribunal... ?

I attended a 1st tier trib where my appeal was upheld; I had my earnings reduced by 69% ! Yes, they were that far out.

My ex then appealed the decision of the 1st tier tribunal this was rejected, she then appealed to the Upper Tribunal on several points of law, which have been accepted.

The main problem, is the CSA understanding my earning; dividends + wages + money held in the company + bench time.

At the first tier tribunal my net profit was taken as my earnings even though that's not quite right as from time to time I retain some profit.

If anyone has any comments/advice... much appreciated.

An odd topic, so apologies for that.

BB