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25% reduction in in...
 
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25% reduction in income

 
(@prestonp)
New Member Registered

Hi,

I earned £120k for the 2022/2023 financial year.  In April, I was made redundant receiving a £129k payout which is excluded for CM purposes.

I want to apply for the 25% reduction of income.  I am now running a successful business.  

Does anyone know what info CMS will use to calculate my current business earnings?  I have a company tax return submitted to November 2022 showing a loss (as I was still working full time).  Will this be used or my current business earnings today?

 

 

 

Quote
Topic starter Posted : 27/08/2023 5:06 am
(@dadmod2)
Illustrious Member

Hi,

CMS should be using income records for latest available tax year. Possible they will see the 120k you earned and based maintenance off that.

I recommend you join this support group for paying parents:

https://facebook.com/groups/239699060076601/

 

 

 

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Posted : 27/08/2023 7:49 pm
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