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Anyone else's ex own a limited company?(1 Post)
(also on divorce thread)
Hi everyone. Need some help on this one as it is massively stressing me out and I really can't afford to pay my solicitor for more advice.
So my ex and I are finally about to start financial mediation (5 months after I submitted all my disclosure forms).
Anyway he told me on Friday that he is putting his salary down as 38k a year and will therefore not be paying as much maintenance as he currently does... To put in context, he actually earns £500 a day and has done for the past 4 years. This gets paid into his ltd company and he then pays himself in dividends...
He owns a limited company and is the only employee. I am a share holder. For the past 10 months, since he moved out, he has been paying me maintenance and also his half of the mortgage through his business. This means I have to pay tax and student loan repayments on this money and it also gives me an artificially inflated income. I've told him this had to stop and he's gotten very nagry, hence the declaring a much lower salary.
My question is what can I do? If he does only pay himself 38k going forwards and puts a lot of expenses through the business and leaves the rest there, his self-assessment will show he earns 38k won't it, not his actual 6 figure salary.
It just seems so unfair that he is going to be living this life of absolute luxury whilst I meanwhile will be raising our children and struggling to make ends meet. I gave up my career for him and our children, working part-time whilst he worked away from home for most of their lives.
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