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It's my understanding that a certain number of assets (cash, secondary home, stocks, precious metals etc) can be considered in child maintenance & an income can be derived from that (8%) if the value exceeds £31,250.
What I'm unsure of, and would like to seek clarification of is if the 31,250 figure is the total value of different assets, or the value of individual ones?
An example: £31,250 of cash, £31,250 of gold & £31,250 of stocks/shares - would nothing be owed off this given no single asset exceeds £31,250 or would it be viewed as having £93,750 of assets (3*£31,250) and therefore bump income up by £7,500 (8% of £93,750)
Thanks
I believe I've found my answer - leaving it here for anyone who comes across it and it may be of help.
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34007Where there is more than one type of asset held, their value will not be added together to meet the threshold. Where there is only a single type of asset, they can be considered as one asset, and their aggregate value considered against the threshold limit.
@direneedofhelp That is interesting and unexpected, I would have thought that they would add them together if I hadn't seen this.
@actd
check out the variations document in the ‘Variations and diversion of income’ sticky on this forum. This actually deals with all variations (can you update the title of the thread so as not to refer exclusively to diversion of income ?)
in fact the para 34007 that the OP refers to is taken from this document
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