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I have my own limited company and wondered if there are any other dads who could help me by providing some of the key basic facts about CSA and financial arrangements surrounding maintenance options and approaches - unfortunately having previously been PAYE and paying lots of money to my ex partner (unmarried) which never was spent on our son - having to fight through the courts to get basic access and costing me my life savings and taking 2 years I lost my job
Now having my business I can pay a reasonable amount and give additional money voluntarily to my son direct but would appreciate any help if you have been through this on how to set things up
Hi There,
being a sole trader and having a limited company aren't that different, you will with sole trader submit your accounts to HMRC and from those accounts you can supply CSM/CMS with the information they require they post you a form to complete with the specifics, with a limited company, you will pay yourself a wage as an employee of that company, you just submit your wage too them in a similar way to how you would if you were employed by a different company, the only other info they would require would be if you paid yourself a bonus or took money out of the company for yourself.
Limited is easier than sole trader as you are infact an employee of your own company so you should be able to produce payslips to send too them.
GTTS
One thing to be careful of is that if you are getting money out of the business in a way that isn't a salary (expenses, dividends etc) or paying, for example, your girlfriend a large salary for doing basic admin, then your ex might be able to get a variation on grounds of diversion of income, so just something to bear in mind.
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