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Original poster

Husband drip feeding into joint account.

69 replies

Dabell · 11/09/2018 16:55

My husband and I are going round in circles arguing every day about money. We have a joint current account and he has a business account (I am named as a director in his business). I don’t work atm but we have been married for 30 years and I have brought up our children, supporting him and running the household when his work took him abroad frequently. In that time I have worked for probably 15 years.
Just lately he has started drip feeding our current account from his business account thereby not allowing me full access to the money he earns. I recently cashed in a pension fund and was unaware that the money had gone into our joint account. By the time I realised, my husband had transferred it into his business account. I keep asking him for access to it and he refuses saying that he works, not me and that I spend the money he earns somin effect the pension money is his.
I would really appreciate anyone’s advice as we are arguing all the time about this and when I say I am thinking of asking a solicitor for advice, he laughs at me, saying a solicitor will just tell me to get a job.
Thank you for reading

OP posts:
WineGummyBear · 11/09/2018 17:07

I think your idea to consult a solicitor is spot on.

The first part sounded financially abusive. The bit where he transferred your pension out to an account to which you don't have access sounds like theft.

Sorry you are going through this OP.

Smurfie12 · 11/09/2018 17:09

I don't have much advice but didn't want to just read and run...however I feel that your pension money is yours and should under no circumstances go into the business account. How is he going to explain the money to the account for his yearly accounts, there will be no invoice etc to show the paper trail. I would be demanding my money back and even open my own account to transfer it into. As for him saying that it is his money as you don't work you could always send him in an invoice for your duties as a housekeeper, cook, etc etc, I'm sure that would amount to thousands. You could always ask a solicitor for a free session, some do them for one appointment that way you have some legal advise. Please let me know how you get on.

Aprilshowersnowastorm · 11/09/2018 17:09

Well when you file for divorce for financial abuse he will have to disclose it all.

SymphonyofShadows · 11/09/2018 17:10

Why the hell is he putting your money into a business account? The tax implications alone are a nightmare and he sounds as shady as fuck.

chasinggarlic · 11/09/2018 17:10

With the exception of the money you got via a pension it sounds like he is putting money IN to your joint account, not out? What's wrong with that?

43percentburnt · 12/09/2018 08:01

What shareholding do you have in the business?

Taking your pension is financial abuse, do you have evidence he won’t return it (text messages/emails)?

Do you want to stay with him?

You really need legal advice. As a director of the company can you access the bank account via the bank? Is it just that you don’t have online access set up? Don’t ask him as he will of course say no and may look at how he can stop access.

43percentburnt · 12/09/2018 08:03

If you are a 50% shareholder (for example) in a limited company what happens to your salary and dividends?

1Wanda1 · 12/09/2018 08:17

If you are a director of "his" company (are you a shareholder too?), you have directors' duties, which include fiduciary duties. In the event that he is running this company in a way which might leave it in financial trouble (as sounds likely if he is propping up its funding with your pension), you could be personally liable as a director in the event of a finding of (for example) wrongful trading. "I'm just the wife and didn't know what my husband was doing" isn't a defence to such a claim. Directors are required to make it their business to know what is going on with the company of which they are a director, and take appropriate action in the event of any "shady" actions by their co-directors. Google "directors' duties".

If you are also a shareholder. you are entitled under the Companies Act 2006 to receive copies of the accounts of the company, and you may also be entitled under a shareholders' agreement (if there is one) or the Articles of Association to receive other financial information. You can find out if you are a shareholder, and obtain a copy of the Articles, by looking up the company on the Find Information About A Company Page on the Companies House website.

If I were you, I would start exercising my rights (as director and possibly also shareholder) to financial records of the company, because your husband sounds like a financially abusive chauvinist who would think nothing of running the company into the ground and taking you and everything you have down with it.

BumbleNova · 12/09/2018 08:22

Is he in financial difficulty? I'd get advice asap.

RLOU30 · 12/09/2018 08:26

There is almost certainly something going on here I would get a solicitor ASAP. Sounds like he is in financial difficulty to me and diverting his guilt on to your unemployment. That’s just my opinion.

Ginorchoc · 12/09/2018 08:31

I’d use Wanda advice as leverage to find out what is going on in the business, if still no access follow through with a solicitor request.

Hadalifeonce · 12/09/2018 08:36

As a director in the company, for any dividends paid to him, an equal amount should be paid to you. I would also request the return of your money via email, to show you have requested it formally.

1Wanda1 · 12/09/2018 08:39

Dividends are not paid to directors (unless they are also shareholders): dividends are payable to shareholders only. Also, dividends are not necessarily paid equally pro rata to shareholdings; they are paid according to the class of shares. If all shares are of the same class, then they have to be paid to shareholders in proportion to their shareholding. If there are different classes of shares then different dividend rights may attach to the different classes.

Ironytheoppositeofwrinkly · 12/09/2018 08:43

I'm sorry if this comes across rude to any previous posters, but am I really the only one who would RING THE POLICE if my partner stole money off me?

Jent13c · 12/09/2018 08:44

Something dodgy going on there, why would he transfer funds to business account? Makes no sense for tax reasons.

Honestly sounds like the business is in financial difficulties and he has stolen your pension pay out to cover debts. Speak to solicitor ASAP. He’s trying to manipulate you by saying you haven’t worked. To make you feel stupid and not ask any more questions.

Another option might be to go to the bank where business account is held. As a director I would expect you to be a signatory on the account (not always the case but usually). I wouldn’t just transfer the money out, would have very serious tax implications (probably best to speak to an accountant) but will let you see what is going on?

zsazsajuju · 12/09/2018 08:47

Sounds like either his business is in trouble or he is planning to leave. Wanda’s advice above re obtaining information on the company is good.

findingmywaytoday · 12/09/2018 08:49

You need more transparency re business. As a director, even "in name only" you're in a very vulnerable position and will be personally liable if the business goes under.

timeisnotaline · 12/09/2018 08:52

I would see a solicitor re the pension funds. And formally email him requesting their return.

Bubblemagic11 · 12/09/2018 09:04

He stole your pension funds, how is that right, do you want to ask for it back? Do you have your own personal account OP?

Monty27 · 12/09/2018 09:08

If you smell a rat there's a rat. Do you see an accountant together?

lifebegins50 · 12/09/2018 09:10

My instinct is that he is preparing to leave..moving assets into thr business so joint assets are less.

Other than money do you have other suspicions?

jelliebelly · 12/09/2018 09:43

If you are a director of the company you need to wake up and start taking an interest in the way the company is run!! This sounds financially abusive to you and potentially fraudulent to the business - you can't just transfer personal and business money in and out of accounts willy nilly! Forget arguing with him you need to take action - start with solicitor and accountant - as a director he could be getting you involved in any kind of tax or legal problems.

thinkfast · 12/09/2018 14:09

1wanda is spot on. You need to start taking control of this now and deal with your duties as a director. As a director surely you have access to the business account too?

starfishmummy · 12/09/2018 14:21

But the whole thing about joint accounts is that the money in them belongs to both the account holders and is not divided into this bit is his and this bit is hers, so either person can take out all of the money. That's how they work, so I don't think that it can be considered stealing.

Morally he's in the wrong but not sure if there's a legal leg to stand on.