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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?
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/
- Samaritans – call 116 123
- Shout – text the word ‘Shout’ to 85258
