Child maintenance
Discussion
Guys I need somea advice
How do cms work out rental income.. As the BTL tax rules have changed all rent is taxable more or less, as it stands I will be paying a percentage on the whole rent without taking off mortgage interest or expenses. I have been told my accountant he will do me audited accounts but I have a feeling cms won't care and will go with the hmrc figure
If anyone here is unfortunate to be in the same boat let me know or PM me
Thanks
How do cms work out rental income.. As the BTL tax rules have changed all rent is taxable more or less, as it stands I will be paying a percentage on the whole rent without taking off mortgage interest or expenses. I have been told my accountant he will do me audited accounts but I have a feeling cms won't care and will go with the hmrc figure
If anyone here is unfortunate to be in the same boat let me know or PM me
Thanks
Single Dad here.
While I don’t have BTL’s etc to worry about, the thing that annoyed with the CMS is that they take a cut if things go through them. My son would miss out on support etc.
I punched in my gross salary etc to the CMS website, it spat out a number and I told his mum this what you’re getting +£5 a month. There’s been no comeback etc or anything for the past 8 years. I adjust by a token amount every year.
It’s good that you’re supporting your child as many don’t. I guess what I’m trying to get to in a roundabout way is, can you not bypass the CMS all together and pay the mother directly?.
While I don’t have BTL’s etc to worry about, the thing that annoyed with the CMS is that they take a cut if things go through them. My son would miss out on support etc.
I punched in my gross salary etc to the CMS website, it spat out a number and I told his mum this what you’re getting +£5 a month. There’s been no comeback etc or anything for the past 8 years. I adjust by a token amount every year.
It’s good that you’re supporting your child as many don’t. I guess what I’m trying to get to in a roundabout way is, can you not bypass the CMS all together and pay the mother directly?.
The paying parent in a CMS case can pay the other directly and avoid the charges. I may be wrong but think there would need to be some evidence of unreliable payment for the receiving parent to be able to insist that they collect payment and thus add their margin.
You can't avoid dealing with the CMS altogether if the other parent insists on having them process a claim.
You can't avoid dealing with the CMS altogether if the other parent insists on having them process a claim.
theboss said:
The paying parent in a CMS case can pay the other directly and avoid the charges. I may be wrong but think there would need to be some evidence of unreliable payment for the receiving parent to be able to insist that they collect payment and thus add their margin.
You can't avoid dealing with the CMS altogether if the other parent insists on having them process a claim.
This is correct to the best of my knowledge, I’m the recieving parent. You can't avoid dealing with the CMS altogether if the other parent insists on having them process a claim.
If I knew the ex would come to an agreement I would ask but I know she wouldn't, right now she's getting less going through cms where previously I was paying more myself. Sometimes there is no reasoning with some folk. My eldest will be 16 soon so it should drop a tad.
I thought about selling up but means I'm losing more money due to mortgage tie in
I thought about selling up but means I'm losing more money due to mortgage tie in
layercake said:
If I knew the ex would come to an agreement I would ask but I know she wouldn't, right now she's getting less going through cms where previously I was paying more myself. Sometimes there is no reasoning with some folk. My eldest will be 16 soon so it should drop a tad.
I thought about selling up but means I'm losing more money due to mortgage tie in
How will your lad turning 16 make any difference?I thought about selling up but means I'm losing more money due to mortgage tie in
layercake said:
If I knew the ex would come to an agreement I would ask but I know she wouldn't, right now she's getting less going through cms where previously I was paying more myself. Sometimes there is no reasoning with some folk. My eldest will be 16 soon so it should drop a tad.
I thought about selling up but means I'm losing more money due to mortgage tie in
Same as me buddy. I thought about selling up but means I'm losing more money due to mortgage tie in
I would adjust my payments based on my actual pay, each month. Instead she gets a set amount, some months I earn more (But no 25% more) and I'd happily adjust it, takes 2 mins on GOV website.
Gassing Station | Finance | Top of Page | What's New | My Stuff