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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

limited company and divorce

  • Action
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04 Apr 12 #321564 by Action
Reply from Action
I think he will need to provide company accounts as supporting documents with form E so, as Cookie says, you will see any dividend payments there. It doesn''t matter that he works on his own. Are you familiar with checking accounts/balance sheets? My STBX tried to hide income by having unpaid invoices (to be paid to himself) lurking in there but luckily I spotted what was going on.

  • debbied
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04 Apr 12 #321568 by debbied
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My STBX has no outgoings in the company.He is totally self employed but has worked in the same place all the time.They provide working gear etc.So no outgoings/invoices nothing to pay out from the company.It is just a earning vehicle.So each year he earns approx 40k,pays himself minimum wage and the rest is just sitting there.So he''s got 5 years of earnin gs just sat in this ltd company.The only person who is paid is someone to do the accounts each year for tax purposes and thats it.

So will they see the ltd company as all his in divorce proceedings and will it be taken into account when they look at the marriatal pot.

  • hadenoughnow
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04 Apr 12 #321577 by hadenoughnow
Reply from hadenoughnow
If there is cash in the company''s accounts then that is an asset. There was some cash in mine held to fund bids for new projects and that was counted as part of the pot. I should imagine he would be on fairly sticky ground if he has been accumulating cash in the company and deliberately keeping his income low to frustrate cm.


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