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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

I think DH is hiding finances from me

120 replies

Shrewdone · 01/08/2012 02:48

i am married(10 yrs) and we have 3 kids (6,9,15) the oldest is from past relationship but real dad has never bothered.we used to have a joint bank account until our property business went bust in 2008 and my DH declared himself bankrupt.As I was a joint director of our company ( but DH made all financial deals and decisions) the huge debts that we had were also mine! DH begged me to go bankrupt but I refused. He constantly tried brow beating me into it saying that I am just prolonging the inevitable as they ( the banks/creditors) will come for me anyway and bankrupt me . I told him I would not go bankrupt and if they do then so be it( not a lot I could do). During his bankruptcy he could only have a basic bank account, and I had my own account. DH went back to work as an IT Consultant ( self employed). We lost our lovely home ( it was in his name only and he signed it as security against development finance) so this was repossessed by one of the creditors. He did this behind my back and I only found out when the s..t hit the fan ! We basically lost everything but are very lucky that he is able to earn a very high income as an IT consultant, which is what he was doing prior to setting up the property company.He has been discharged from bankruptcy ( approx 3 yrs) and has a limited company as an IT consultant. We still live in rented as cant get mortgage due to credit history.
My big problem is that he still has his own separate bank accounts both personal business and various savings accounts, which he opened a number of months ago. I honestly do not know how much he earns every month. He tells me it is around £120k per annum gross but I had a bad feeling he isn't being honest so I had a search through his desk and any paperwork and found some bank statements. From what I saw, basically you can double that figure he tells me ! I told him and he laughed at me and denied he earns more. I have insisted countless times that he gives me complete access at all times to the bank accounts but he just makes excuses. Once after a huge row about it he produced a spread sheet that he had made of In goings and outgoings and expected me to accept that !
He pays me an allowance each month which he puts through as a salary saying I work for his company. Over recent months I have had to ask for him to pay it into my account ( very demeaning ) ans he says he hasn't got any money as he has had to pay this and that and he can only give me so much now and more later in the month. This month I have had the same but I told him no and that I expect it paid in one payment as he had originally agreed. Our youngest are in private school so he said I can have my allowance/housekeeping but he will have to use money he put aside for school fees. I decided that his attempt at emotional blackmail will not work so I said OK.
I asked him why when he earns more than most people he is always pleading poverty ? He tried to blame me! Saying most of HIS money goes to me . I told him that this set up is no good and we should have joint accounts and that we are married and who ever earns it is OUR money and I shouldn't be made to go ask him and go through this all the time. I insisted that evening we sit down and he shows me all off his accounts online and pay statements so I can see what income there is and exactly where the money is going ( I have been through this conversation loads of times before). DH response was ' I haven't got time to do that so no '.
I am at my wits end with it because I can only think he has something to hide. and why does he not want me to see exactly why he earns ? The whole thing stinks and I don't know what to do to be honest.Also we rent a huge house in the country which costs loads to upkeep and is 2k per month rent. I hate living here as he works abroad all week and I get spooked as it is quite isolated. Me and the kids all want to,live in a regular size 4bed house in or near town but he refuses to live where I want and will not budge on it.

OP posts:
CinnabarRed · 01/08/2012 15:49

Assuming he doesn't have 'expenses' that have substantially reduced his profits. He may be claiming Hmm the company has no profits and hence no dividends, for all we know.

CinnabarRed · 01/08/2012 15:50

Me too!

Shrewdone · 01/08/2012 15:54

Thanks for all this very interesting info. I will be very interested to see who is the other director. My step father WAS listed as secretary ( just an act of kindness to help him ), but my S Father wanted his name removed from anything to do with his business. He has told us that he has done this. But from what you are all saying something is defo not adding up here !! Also I walked in on him phoning his bank last week. He was going through the security questions and had phone on speaker phone and he was asked if there is a second signaturey on the account and he gave my step fathers name.
Questioned him about this but have not got a clear or satisfactory answer as yet.

OP posts:
Binkyridesagain · 01/08/2012 16:00

A ltd company only need one director and does not need a company secretary.
You need to check in what capacity you are employed by him, if it is as a company secretary then how did he go about it? You gave to sign documents to say you are in that role.
If you are an employee then he must provide you with payslips stating pâté and NI also p60 when required, the money you earn is to be paid into an account if your choice.
You are not working and taking a salary then HMRC frown upon this and you can't say you didn't know!
He won't be earning 120k if his accountant knows how to do his job his 'income will be made up from salary, dividends and directors loans or even expenses that can be claimed as business but have actually been incurred through personal use.

Alibabaandthe40nappies · 01/08/2012 16:04

Yes that is true, although with an IT Consultancy there is a very limited amount of things that can be claimed as expenses.
It depends how he is being reimbursed for his costs when he is abroad.

Shrewdone · 01/08/2012 16:17

ok, feeling pretty sick at the mo ! just been checking his company online - he is only director as step father was removed so that is ok BUT the company is registered at an address in Poole, Dorset. We live in Herefordshire ?? I then notice that this address is also the address of another company and then to my horror I see that he is a director of this other company I knew nothing about too ! And if that not bad enough his MOTHER was also a director ( but that ended in 2010 ) I must say I am feeling very sick and very decieved so far by him and his mother.

OP posts:
Toughasoldboots · 01/08/2012 16:23

This reply has been deleted

Message withdrawn at poster's request.

whatthewhatthebleep · 01/08/2012 16:25

if S father hasn't signed any papers to this effect with the bank then I expect he is still named as part of the liability for the company if it goes belly up...he would need to have signed himself off the business legally....

It sounds as though your DH is very controlling in lots of ways...making you live rurally when you would prefer to be nearer town and people, etc...controlling money so you would never be in a position to be independent of him...the way you describe his attitude is very manipulative and scarey....

You really need to investigate everything....
I hope your own business flourishes and you can go forward from all this weirdness and bad situation...are you sure the school fee's are even paid? and the money is even there for this? Is his business totally legitimate even...I don't know that you can be sure of anything at this point....

Binkyridesagain · 01/08/2012 16:29

In Ltd companies the directors and company secretary have no liabilities, it's the main reason that 'self employed' go ltd

TrollofTrollHall · 01/08/2012 16:29

Sounds hideous, and I expect that if you do split he will hide his earnings, and probably bugger about with the school fees as well.

why are only the youngest two in private school? he didn't want to pay for your son from a previous marriage?

Shrewdone · 01/08/2012 16:39

Only our two ' bio's ' are private school because we lived in cardiff when the property business moved tits up and my oldest son was settled in the local comp school.When our home was repossesed by a creditor I agreed to move with him to monmouthshire so that he could be near to his mum as his dad was dying of cancer at the time.I must have been in some state of break down to do that because I regretted it and missed home from day one.My son grieved terribly for his life and school in cardiff.he moved to a new school and when we decided to put youngest in private my oldest does not want change schools again ( cant blame him). Feel really betrayed by DH and his mum now I discover there was another company with them as directors I have not even known of its existance. It like they plot behind my back - terrible feeling

OP posts:
CinnabarRed · 01/08/2012 16:41

OK, time to take control back. Have you looked at the accounts filed for the companies? How much profit are they making? Is there a cash balance disclosed in the balance sheet? How much salary has he paid himself (should be disclosed under directors' remuneration)? Any dividends declared? Do the companies have debt disclosed on their balance sheets? What are their net assets?

They won't need to be audited, so no independent verification of the figures. But it's a start.

LurkingAndLearningLovesCats · 01/08/2012 16:42

I can't add to the fiscal aspect as I am not yet independent but you are aware that what he is doing is a form of emotional abuse? It's called financial abuse.

Financial Abuse:

Financial abuse is also a common occurrence within relationships. Financial abuse is any act that affects the material security of another person against their wishes.

This form of abuse includes the following:

Irresponsible use of money, such as gambling, risk taking, excessive spending
Employment prevention
Denying housekeeping
Demanding account of all money spent
Stealing money
Hiding money
Making you responsible for debt
Not permitting spending for necessities
Coercing or manipulating credit cards or loans in your name
Demanding pay
Forcing you to commit criminal or demeaning acts for money

Like I said, I'm not well versed with figures but how many of these categories do you fall into? :(

cozietoesie · 01/08/2012 16:42

Shrewdone

This sounds like a bad situation for so many reasons. Make up your mind whether you can now realistically stay with this man and then consider getting to a solicitor as soon as you can.

Shrewdone · 01/08/2012 17:01

well, it is so true to trust your gut feelings! I knew things were just not right as they are. I am gutted to find out about him and his mum setting up a company I know nothing about. This is obviously just scratching the surface and I can bet there is a whole lot more hidden from me - surely there should be laws about this sort of stuff. I kinda feel like I am living in the last century as regards what I can do about him coming clean and me having knowledge of all finances.
I will keep my cards close to my chest and not let on what I know or find out. I think that he has constucted a very complex financial minefield with the sole purpose of hiding the truth from myself and inland revenue etc. I really don't know what to do for the best and how to ensure me and my kids get what we are legally entitled to.

OP posts:
kittysaysmiaow · 01/08/2012 17:01

OP sorry you are going through this.

In my former job I dealt with many, many men like your DH. My guess is that he has a number of companies to be used as neccessary, he has

kittysaysmiaow · 01/08/2012 17:05

Sorry. I guess he has a number of companies and has used the names of family/friends without their knowledge. Have you googled the Poole address? Could be a dodgy accountant helping him to hide money. He will probably be evading tax and whatever you know about is the tip of the iceberg. Id guess his companies are not filing accounts or if they are, the figures are a crock of shit he's made up.

Sorry to sound cynical but I've seen it a million times. Please please please gather as much evidence as you can and make copies of everything, even if you think you might not need it. Good luck

DrinkFeckArseGirls · 01/08/2012 17:15

The different registered address doesn't mean or doesnt have to mean money laundering FFS. If OP and her husband are renting, then they cannot registered any business where they live. I live in one city and my first reg add was in Sheffield. I used a company providing such service for exactly for such circumstances. It doesn't mean he has a dodgy accountant.

crazygracieuk · 01/08/2012 17:22

I'd also check your credit report with Experian for anomalies. loans and other debt

kittysaysmiaow · 01/08/2012 17:24

drink in isolation the address wouldn't mean anything no. But it's part of a pattern of very suspicious behaviour

porcamiseria · 01/08/2012 17:26

Its dodgy as fuck

you are married, but there seems to be no partnership at all

what cake and red said

GOOD LUCK, and use the time when he is away to get very up to spped on your rights.

I am not saying fleece him, no. But this sounds very unfair

Shrewdone · 01/08/2012 17:58

yep ' dodgy as fuck ' is exactly the right phrase :-) The registered address is not my worry but the fact that companies exist without my knowledge - we are married after all and this is not how I would treat a close friend let alone my partner in life ! Finding this out today has driven another nail nto the coffin. I was worried enough about his secrecy and control over the finances in general.

When this other company was registered was around the time when we had a bad patch in the marriage and I rented a house for 6 months, although I was hardly there as I just couldnt go through with the break up. It sort of all starts making sense - looks like he set up this other company when he thought I was going to divorce him, for what purpose ? I can only think to hide money from me etc .... what do you all think ?

OP posts:
trikken · 01/08/2012 18:00

sounds very likely. also sounds like a horrible situation to find yourself in.

Dprince · 01/08/2012 18:06

Sounds to me it so he can hide money if you were to split so he wouldn't have to pay as much maintenance.
Do you think his mum knows? Do you think she signed up as a director knowing what he was doing?
My guess is that he set this company up to hide money when he thought you were splitting. I thi k he has continued with it, in case you do eventually split.
I think, when divorcing, you can request full financial disclosure. Which would mean he would have to declare this other business, otherwise he may just use the company you know about, iyswim.

Shrewdone · 01/08/2012 18:12

yes, knowing what his mother is like I would say she was very involved. I invited her for Christmas Day that year and she was trying her best to start a row with me ( which I couldnt understand why ).It ended up that she was very verbally abusive to me infront of the children and said really awful things about me saying I was a terrible wife etc. I ended up in floods of tears and ordered her to leave. She stood on the doorstep and said to my DH ' come on, come with me, don't stay here with her'. He didnt by the way !

So, yes, I would say that she has probably been encouraging and supporting him to be devious . I do not think he would disclose everything to the courts.

OP posts:
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