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I have an issue.
I'm self employed, and the business I'm in is very long-term - property development, to be exact. This means that now, and for another 1-2 years, I am reporting (perfectly legitimately) a trading loss, living off my meagre savings, and therefore not paying any maintenance. If and when my projects are built and sold, however, I shall suddenly make a very substantial sum - well into six figures in the space of a couple of months. How on earth should maintenance be calculated in this situation, with such irregular earnings?
Hi There,.
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I don't have any experience of this I'm afriad, I would imagine that they would calculate an amount based on the earnings you make at that point, which in theory would equate to an amount similar to what you would have paid if the income had been earnt over the same period of time that you had been running at a loss.
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I have slightly edited your post and moved it to it's own thread so that our experts will see it and be able to coment.
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GTTS
Hello Peterwis
If you have a family-based arrangement in place you may wish to discuss and negotiate with the other parent on how your payments would be calculated. Although family-based arrangements are not legally enforceable, parents can decide the terms of their agreement to suit their current circumstances, as there are no strict rules or formulas to follow.
The Child Maintenance Options website has a useful tools and guides section that you and the other parent may find helpful when trying to negotiate your family-based arrangement. This can be found at http://www.cmoptions.org.
If you have a case with the Government’s statutory scheme you may wish to contact them directly to discuss your concerns regarding your payments. You will find their details on any letters they have sent you or on Gov.uk at https://www.gov.uk/child-maintenance.
The following link provides information on how the Child Maintenance Service calculates child maintenance that you may find useful, https://www.gov.uk/how-child-maintenance-is-worked-out/how-the-child-maintenance-service-works-out-child-maintenance.
If you have a Consent Order/Minute of Agreement in place you may wish to see what is stipulated within your agreement to where you stand regarding your maintenance payments. Alternatively, you may want to seek legal advice.
For more information on all the different ways to set up child maintenance and for a more personalised service, you can visit the Child Maintenance Options website.
The DWP have a sorting out separation web-app that you may find useful. It offers help and support to separating and separated families. The link is: www.dad.info/divorce-and-separation/sorting-out-separation.
Regards
William
I would give CMS a call and discuss, but I would be wary at the moment of stating the profit you'd make because they might try to find a way to assess you on it. I would stick to what is definite now and check that it's reviewed every 12 months.
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