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Jo C.
Jo C., Barrister
Category: UK Family Law
Satisfied Customers: 782
Experience:  Over 5 years in practice.
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I have been married 16 years and in that time I have bought

Customer Question

I have been married 16 years and in that time I have bought up two children and entered into partnership with my husband. Our children are 14 and 16 and in full time education. I have a share in our limited company but we only take the minimum wage and pay no individual tax but the company pays the corporation tax. I wondered as our 'earnings' are so low will that affect the amount he has t give me? Who can help me work this out?
Submitted: 1 year ago.
Category: UK Family Law
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question
I shall do my best to help you but I need some further information first.
Do you both take dividends from the company?
Claire
Customer: replied 1 year ago.

We have 700 a month between us.

Expert:  Clare replied 1 year ago.
HI
Just to check - that is in dividends?
How much do you take out in salary?
Claire
Customer: replied 1 year ago.


we have £675 a month each wages and £700 between us in dividends.

Expert:  Clare replied 1 year ago.
Hi
Again just to check - do you regularly leave any funds in the Company rather than take the dividends?
Claire
Customer: replied 1 year ago.


we regulary leave funds in the company rather than take the dividends, yes, its like working fund as we buy goods on behalf of the customer and then they pay us once the work is complete.

Expert:  Clare replied 1 year ago.
Hi
About how much of that is necessary working Capital and how much could in fact be used as dividends
Claire
Customer: replied 1 year ago.


I have no idea. I will check with our accountant and get back to you tomorrow.


I feel a bit scared having given you £22 that your firm may start taking out regular amounts, please can you put my mind at rest?

Expert:  Clare replied 1 year ago.
Hi Jayne
I will refer that part to customer services who will answer that for you.
When you are ready with the other information just add it here
Claire

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