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Yes they could, they have that power. But based on your circumstances I very much doubt that they would - unless her circumstances have worsened since the original agreement.
Can they increase the SM?
Yes they could. I guess the median outcome is that they award the same percentage (30%) of whatever your expected bonus is in your new job.
Can they award her a % of any future bonus? (whilst this is currently academic, I have subsidised my salary with many 1000s whilst unemployed and since I have been in a lower paid job and i would like to recoup these savings)
Cost rules changed in 2006 for ancillary relief. I assume (but am not sure) that these rules hold true for variations as well as the original ancillary relief process. In which case essentially each party is liable for their own costs.
Can they award her costs against me?
The court fees applicable for making the application cover the courts costs. It is having barristers and solicitors that gets expensive - actual court fees are pretty reasonable. I would assume that as application for the variation you will pay the fee.
Who pays for the court's time?
I believe you could withdraw your application.
Can I cancel the case If I want and what could happen if then continue to pay the SM but at the lower rate that I have calculated?
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This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.