I wonder if anyone here could help or know someone to contact who could help. I am posting this on behalf of a friend.
He split with his wife and recently had a court hearing re: maintance payments to his ex.
His situation is that he is a one man band limited company like most of you taking min wage salary and the rest dividends. Income could be around 90k per year although about 60% of the dividends are held back in the company so really he only receives £40k each year. The other £50k is held back in the company.
Now after the court hearing, the judge has said he has to pay a large maintance sum to his ex based on the full £90k which the company has. He is furious about this as he believes it should only be on his income he personally receives of £40k.
Whatever happends to the company funds should not come into it? After all the company could have outgoings etc which this held back money could be used for.
Now obviously this is a legal issue but does anyone have any knowledge on this or know anyone who would specialise in this area.
He is happy to appeal against the courts if he knows he has grounds to stand on but just wants to know where he actually stands.
How can the courts justify he in effect has £90k per year but he only receives pay of £40k?
He split with his wife and recently had a court hearing re: maintance payments to his ex.
His situation is that he is a one man band limited company like most of you taking min wage salary and the rest dividends. Income could be around 90k per year although about 60% of the dividends are held back in the company so really he only receives £40k each year. The other £50k is held back in the company.
Now after the court hearing, the judge has said he has to pay a large maintance sum to his ex based on the full £90k which the company has. He is furious about this as he believes it should only be on his income he personally receives of £40k.
Whatever happends to the company funds should not come into it? After all the company could have outgoings etc which this held back money could be used for.
Now obviously this is a legal issue but does anyone have any knowledge on this or know anyone who would specialise in this area.
He is happy to appeal against the courts if he knows he has grounds to stand on but just wants to know where he actually stands.
How can the courts justify he in effect has £90k per year but he only receives pay of £40k?
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