Hi, would anyone know if selling the family home would be classed as earnings with regard to the csa. I'm looking to sell my house, and my fiancee is selling hers separately and we're buying a place between us. Is the money I take from my house and put towards the new one classed as profit or earnings?
Hi
When I filled out the calculation online for Csa I don’t recall it asking about assets , rather just income . The calculator is online so best to check . Think it’s more likely the ex will try to claim the house , or proceeds of sale is a matrimonial asset ...depending on your circumstances , if they’ve contributed toward the upkeep and so on ...
Thanks CityDad. It's my house and she never lived in it or contributed to it in any way. We were never married and it was purchased before my son was born also.
Hey
So I expect you’ll be ok On that front .
Here’s the online calculator , see what they ask ...
https://www.gov.uk/calculate-your-child-maintenance
It may depend on whether you lived in the house prior to selling it, in that case I think you would be entitled to use it to purchase a new home, without it being classed as earnings... I’m no expert though, this is just my opinion...it would be better to get some advice from someone that is knowledgeable, a solicitor or financial adviser,
All the best
Thanks Mojo/Citydad. I agree theres nothing in the calculator for it Citydad, and yes thats what im seeing Mojo about the family lived in home (which it is) - agree though its the sensible approach to check with someone before I jump in. Thanks guys.
hi davel,
you should be fine. cms just ask about what your income is, x amount a month or week, or year if your self-employed.
good info here : https://flip.co.uk/pending-change-in-child-support-calculations-assets-return-to-generate-a-notional-income/