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CSA advice forum » Child Support Agency

1. accesspwd1
   Member
   
   

   Every 6 months i get £1500 worth of shares from my company.

   These shares a tucked away and i cant touch them for 3 years.

   After 3 years i can start selling them subject to paying Tax and NI, the payment is shown on my way slip if i sell the shares.

   Or i can wait 5 years and then cash them Tax free and they wont show on my wage slip.

   Regardless if they are shown on my wage slip of not will i have to pay extra if the CSA find out about these shares?

   I also get dividends ever 6 months - these go straight into the bank. Is there a way for the CSA to find out about these?

   Thanks

   Posted 1 year ago #

2. LondonPride1
   Member
   
   

   OK,

   It is complicated, but the simple approach is yes, if the CSA know about it, then they will inclide these in your assessment.

   However, they do not have access to your bank accounts and despite being a government body I have never known them to contact HMRC to look at your tax and NI payments.

   Ultimately, the only way the CSA will find out is if you tell them or if someone else who knows about it tells them.

   If you do decide to keep it "secret" then you will run the risk of it being back dated if the CSA do ever find out about it.

   The other option is this. Do you have someone in your life you implicitly trust? Mum, Dad, Brother etc.? If so, explore about signing over your dividend and share rights to them, give them some cash as a thank you and when the payments mature it will go through their tax code, not yours, therefore not liable for the CSA to take a share.

   Posted 1 year ago #

3. Michael - CSAhell.com staff
   Anti-CSA Warrior
   
   

   Are you a director of the company?

   If you're not, the dividends are not classed as income and the CSA can do nothing to you.

   Battling the child support agency on every front

   Posted 1 year ago #

4. accesspwd1
   Member
   
   

   Thank you for your reply.

   Im no director of a company,

   The company i work for gives every member of its staff these shares as a goodwill gesture every 6 months.

   So they cant touch the shares, is that right?

   Its such a hard game but the only reason im hiding this from the CSA is because i cant afford on what they are taking from me now.

   Can the CSA touch me if i was to leave the country for example but work for the same company i am now in the UK?

   Posted 1 year ago #

5. discriminator
   Member
   
   

   I cant believe that you would consider leaving the country rather than support your child. What sort of person would not only want to leave their child worse off financially, but would even consider abandoning them by leaving the country to save money. Shame on you !!!!!!

   Posted 1 year ago #

6. utopian777
   Member
   
   

   I have to agree with discriminator, but thats only my opinion as I don't know all your circumstances, pay for your child(ren) may seem hard but at least you will have a clear concious in the future, if you want to "hide" the money that is only a decision you can make. I pay ridiculous sums of money to my ex and she earns more than me!!....the CSA are a nightmare I know; sadly you are not the only one. If you think you are over paying then ask for a reassessment if that helps you, unless of course you salary / wages has increased substantially since your last assessment.

   Posted 1 year ago #

7. accesspwd1
   Member
   
   

   I made the whole thing sound out of context, Its not a point I dont want to pay for my child because I think every father should.

   Its not a point that im going to leave the country, im simply sourcing information

   The baby has been in Venezuala for the last 3 months anyway and the mother is not coming back, yet the CSA insist I still pay the maintainance

   Utopian777, I dont think paying to much to the CSA, but I cant afford to live on what im left with, making me seriously vunerable to quiting work to make things easier, which i do NOT want to do.

   And the only reason I want to hide my shares and dividend payments is so that I can have that extra money to cover bills that have gone without being paid for 6 months, not for my own luxury

   Hope that makes things a bit clearer

   Posted 1 year ago #

8. discriminator
   Member
   
   

   Utopian is correct a reassessment would help make things clearer for everybody.

   As you point out the child and its mother have left the country, however the child will still need caring for, and unless i am mistaken Venezuala do not offer the same government benefits etc that we offer in this country to support and maintain families on little or no income.

   In your position i would expect the CSA to reasess annually, however if your child and its mother are outside the country, she may not apply for this.

   It is difficult to obtain a reduction in payment, however when contact is not a possibility as they live outside the Country. This may be the route that you should be taking to reduce your payments.

   Posted 1 year ago #

9. common law
   Member
   
   

   london pride i can assure you that the csa can and will contact hmrc and collect the information they are after.I have 1st hand experience of this im afraid.

   Posted 1 year ago #

10. discriminator
    Member
    
    

    There is a way that you can hide dividend payments when being asessed but only if you're a Director.

    Posted 1 year ago #

11. accesspwd1
    Member
    
    

    Im not a director just a fellow emnployee trying to earn a living, with the CSA im left wounded with no money to cover all outgoings.

    Posted 1 year ago #

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