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What are the rules with dividends and the CSA?
In brief :-
I pay 20% of my net salary
I pay 20% of my house values x 8%
CSA decided that as I never take a company dividend they will take it at gross and give 20% of that to my ex. I wanted to keep money in company but accept she is due some. I want to keep 25% in as I have normally done every year (10). Im a 40% tax payer so with this figure, I’m losing 40% of last years income…. What are the rules, I seem to have no control of my money or company. I have always paid in 11 years since we separated, she went to csa 3 years ago because she didn’t like me settling down 3 years ago.
My new family and I don’t stand a chance
Andrew
5 thoughts on “What are the rules with dividends and the CSA?”
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Have a tribunal decided such?
If your deemed to be choosing not to take that money in order to avoid paying CS, you may be expected to pay child maintenance based on what the company has, not based on what you take out of the company.
chall
Having a company is not really any protection. The only way to keep control of your finances and your company is to have it set up abroad in which case they can’t ask for the books etc or remove yourself from the UK both a bit extreme but it seems the only way.
Yes, but they are taking it all, not allowing me to retain any even though I have a 10 year history of keeping 25% back and then they even take it at Gross !
Andrew, do you “have to” own the business. Could your new wife not “take directorial control” owing to the stress your being put under. After all, if you don’t own it then it’s not “your” wage or dividend………….just a thought.
andrew,
Did you take advise prior to/during the tribunal process?
You have the right of appeal against a tribunal’s decision to a Child Support Commissioner, but only on a point of law. A Child Support Commissioner can overturn a tribunal’s decision if it is wrong in law. Before you appeal to a Commissioner you have to apply to the tribunal for a statement of reasons for its decision. If, having considered the statement of reasons, you still wish to appeal you must have permission. The letter from the tribunal telling you its decision will also tell you how to apply for permission and how much time you have to do this. If the Child Support Commissioner decides the tribunal’s decision is wrong in law, the Commissioner will usually do one of the following things:
• give the decision the Commissioner thinks that the tribunal should have made; or
• refer the case to a different tribunal and tell them how to deal with it.