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House sale and cms
#1
I finally sold my house split the equity, purchased a new house and now got no financial ties with my ex wife now house is sold. Basically she blew the lot I'm talking thousands, she on benefits, so I guess that her reason, to spend it quick. I was hoping that be end of it. No she now after some my share, apparently kids are entitled to it. I struggle like mad get a mortgage and on my limit. I have savings, but basically to do up my new property. So she now threatening to report me to CMS I'm already paying maintaince through them, also giving her a little bit extra, as i still cant see my kids, due to lock down, something else she milking. Apparently if you got savings, my ex wife and children are entitle to a share is this correct, I dont know how she knows I got savings but it literally, to pile into my house i bought. How i see it would end up as the kids inheritance anyway. So if she does report me will my payments go up, I desperately want to see my kids too, but this corona lock down really annoying, I been working all the way through it.
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#2
If you already have child maintenance arrangement in place, and if it is calculated on the basis of HMRC figure ( like in cases of employment) then you have already done the right thing and any saving that you accrued can't be claimed by the receiving parent...UNLESS if there is any additional income that has not been reported to HMRC, for example you getting a rent from a property that you have let out.
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#3
I have done loads of overtime to get a mortgage as I was pretty much on border line not many places give me one on basic salary till I showed them my payslip with overtime on. So if I have savings CMS can't touch me then, as it sale from the house, which I'm investing in the new house as needs updating
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#4
Did you have a clean break order when you divorced? You only need to pay CMS as assesses. They don’t count savings up to about £16000 (I think). If you didn’t have a capital clean break when you divorced she can come back at any time and want a share of anything you gain (eg lottery win or an inheritance). But she’d need to go the legal route to try and get it.
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#5
(07-04-2020, 03:42 PM)Charlie7000 Wrote: Did you have a clean break order when you divorced?  You only need to pay CMS as assesses.  They don’t count savings up to about £16000 (I think).  If you didn’t have a capital clean break when you divorced she can come back at any time and want a share of anything you gain (eg lottery win or an inheritance).  But she’d need to go the legal route to try and get it.

Regarding the member doing overtime, any change of up to 25% either way only counts from when your next case year starts.

If you have breached the 25% then if its a CMS case,I would inform them now, so that ongoing you pay the correct amount. If they find a 25% increase (bearing in mind HMRC give them access at end of a case year), they will backdate it to day 1 of that case year that just ended.
Posts made by me are my opinion and any factual information should be checked out. If you do not have a Solicitor, often your local CAB can get you some initial advice.
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