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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?
Topic starter
Posted : 27/08/2023 6:06 am
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/
Posted : 27/08/2023 8:49 pm