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TOPIC: Pending Financial investigation interview

Pending Financial investigation interview 1 year 7 months ago #95875

  • Lakey
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Hi All
Looking for some advice and help over a pending Financial investigation Interview with the Financial Investigations Unit over my "circumstances"

As brief as possible my situation -
Was paying CSA until Nov 2016 when it changed over to CMS and was reviewed and increased
I was employed up until mid-October 2016
But went self employed late october 2016
I appealed the original CMS figure, provided a projection of earnings and got a reduction in maintenance.
However, my self employement worked dried up over christmas 2016 and i didnt really start working again(self employed) until May 2017.
In Jan 2017 I informed CMS i was not working and had nil income(however didnt de register as self employed as didnt know i had to).
I didnt claim any benefits as i had a small amount of savings and my current wife was able to support both of us.
In May 2107 i started getting some self employed work through my wife's business
I completed a tax return for 2016/17 and got the accountant to provide a projected earnings figure for 2017/18 which I duly passed on to CMS.
I then appealed to the CMS that with nil income from late December 2016 to May 2017 perhaps I shouldn't be liable. I appealed this and it has recently been overturned and I am now liable for cms payments from Dec 16 to May 2017 when I had nil income?
I have been paying CMS payments since the autumn of 2017 by pay and collect even though i offerred to pay directly.
So i am up for review again as its November !
However i guess my questions centre around what information can they have on my circumstances?
Can they look at my bank accounts,Credit cards etc etc ?
Do they take my wifes income into account ?
How long do i have to continue paying for them ?
Oh and of course i have had no contact with my children for nearly 5 years.
The oldest is 19 and i believe in his 4th year at college.
And my twins are 16 one has stayed on into 6th form the other has gone to college.
I have always paid i would like the autorities to just get the right amount ?
Look forward to hearing from you all

Paul

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Pending Financial investigation interview 1 year 7 months ago #95877

Hi Paul,

CMS will look at your income only, your partners income isn't taken into account and savings also wouldn't be.

You would continue to pay until your children are no longer in full time education or reaches 20 as far as I am aware.

GTTS

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Pending Financial investigation interview 1 year 7 months ago #95879

For me, the FIU demanded to have a copy of my full unabbreviated accounts for the year in question and the current year.

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Pending Financial investigation interview 4 months 2 weeks ago #104544

Good day how did you get on with the fiu as Iv got mine on the 3rd March and I’m honestly worried as Iv never been in trouble and always payed what was asked and more look forward to herring back from you any help whould be appreciated

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Pending Financial investigation interview 4 months 2 weeks ago #104545

  • Bill337
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hi,

have they asked you to bring any documents to the meeting? will probably like to see your accounts. i don't think its the fact that you make payments on time every month, but issue is probably the amount you are paying.

there are some self-employed people that tell CMS that their income from their business was e.g £12,000 per year lol. thats asking for trouble.

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Pending Financial investigation interview 4 months 2 weeks ago #104546

I would like to give some good advice, but unfortunately I cannot. The FIU was cancelled by CMS. My ex took me to tribunal for undeclared income. My assessment date for CMS was early April and I told them at the time I had earned more than my then current P60, but it takes a while for new P60 figures to show. CMS can only go by the figures at HMRC they say, so they assessed me based on the previous years figure. During the 3 month process of working toward the tribunal CMS did further investigation and found I did have undeclared income - namely the new amount on the new P60 lodged at HMRC that I had told them about! They made out I was a naughty boy for withholding income, when I had tried to tell them all along :-)

Good luck though......
The following user(s) said Thank You: Alick

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Pending Financial investigation interview 4 months 2 weeks ago #104548

They asked for all my books before my interview and they have now called me in on the 3rd of March I have all of my documents that my accountant as declared to HMRC so what else will they require

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Pending Financial investigation interview 4 months 1 week ago #104551

Probably not a lot else. I expect they will look at what your income to the company is compared to how much you pay yourself - so are you withholding income that could be measured for CMS. And also how much you are putting into your pension and is it excessive.

If you believe you are conducting matters correctly and you have nothing to hide, then they should not find anything and you will be fine.

It could just be your ex(like mine) cant bear that you may have more than she is getting and just wants to make waves with no grounds.......
The following user(s) said Thank You: Alick

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Pending Financial investigation interview 4 months 1 week ago #104553

Cheers pal not got a pension and I’m a sole trader so all tax paid at source so I don’t even no how I can hide anything !!

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Pending Financial investigation interview 4 months 1 week ago #104574

Are you in construction industry scheme @Alick?

I’ve had issues with income from CIS as a sole trader not pulling through in the HMRC Figure

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Pending Financial investigation interview 4 months 1 week ago #104577

No pal I’m not in any scheme just a sole trader that’s all

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Pending Financial investigation interview 4 months 1 week ago #104613

Well guys they have changed my interview to a phone call

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