I have a full time job. Last year I took on an extra job as a contractor from May 2021 - December 2021. This contract role was within IR35 and I never mentioned it to CMS.
I'm worried about how this will affect my annual review. I am now back on just the salary from my full time role. I currently pay approx £340 a month for my 2 kids. I used the online calculator to try and figure out how much the new monthly child maintenance amount would be. Based on what I earned in total for 2021/22, the monthly payment will shoot up to approx £1400. This is about half of my current monthly take home pay. Will they take into consideration that I am no longer working the extra contract role, or am I buggered?
Thanks in advance for any advice you can offer.
hi,
when is your next annual review? generally at time of review they will check HMRC for your total gross income for latest tax year. so most likely it will include the amounts you earned for the contract role. you can wait for the next review and see what maintenance calculation they work out.
@bill337 hi. Thanks for your response.
They usually write to me at the end of April. The problem is, I'm in the process of buying a house. I was trying to figure out the potential amount ahead of the review outcome. It might be too late for me to pull out of the property purchase by the time I learn the new amount. And if it is as high as I think it's going to be, then there is no way I would be able to afford the CMS and mortgage payments.
@davidbm when the annual review is done, if there is a 25% difference to your present income, they should be able to recalculate based on your present income, and reducing maintenance payments.
e.g. annual review salary 2021/22 year: £50,000
your present day salary is £35,000
so as your present day salary is at least 25 % less than £50,000, CMS should recalculate maintenance based on your £35,000 salary and reduce the payments. So when review happens, if you have a situation like this, you can contact them. they may ask you for 3 months of pay slips to confirm.