Hi , new here .
I have 1 child with my ex whom I am paying child maintenance for .. my ex is now aware I have 3 different assets ( premium bonds , cash in bank account and cash each one is around £30,000 ) is this counted as I have 90,000 so owe 8% or are they counted as individual?
if counted as 90,000 how do I pay the 8% as that’s all I have ! So if I bought a cheap house with the 90,000 and become my primary home is that also counted as owing my ex 8% still?
it’s really confusing
this money was from inheritance so showed I had it on statements but it’s all split now as above .
thanks
hi,
if your paying through CMS, then they would only act on this if they aware of your inheritance money. usually your ex has to ask them for assets variation. the general rule is they take taxable income into account.
more info here:
https://commonslibrary.parliament.uk/research-briefings/cbp-7773/
if they do take the 90k into account with 8% rule, then that amounts to £7,200 and they would add that to your monthly maintenance payments and spread over 12 months payment plans.
if you buy a property and use as your sole home, then I doubt they will take into account.
@royale79 am not sure. theres a good CMS group for paying parents. recommend it: