Can the CSA look into proceeds from a property sale? - 100% profit
18 June 2008, 10:05 AM
#1
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Can the CSA look into proceeds from a property sale? - 100% profit
I will be "gifted" a property soon, which I intend to sell, making in my view 100% profit on it.
Will that be classed as earnings and be eligible for the CSA to take a chunk of it?
It will be my only official owned property, not sure if this makes any difference.
Any ideas?
Will that be classed as earnings and be eligible for the CSA to take a chunk of it?
It will be my only official owned property, not sure if this makes any difference.
Any ideas?
18 June 2008, 10:10 AM
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Definitley an asset, but just how that will effect your 'maintenance' I'm not sure!?!
I thought that 'maintenance' was based upon income rather than savings
I thought that 'maintenance' was based upon income rather than savings
18 June 2008, 11:17 AM
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Thought it was regular income that they based their "calculations" on...?
As your windfall will not be regular income, I can't see how they would know about it, let alone class it as regular income.
They really deserve a big
from me anyway, whatever they do.
As your windfall will not be regular income, I can't see how they would know about it, let alone class it as regular income.
They really deserve a big
from me anyway, whatever they do.
18 June 2008, 11:54 AM
#7
From the csa
We work out child maintenance by applying one of four rates to the non-resident parent’s income. Income is earnings, money from an occupational or personal pension, and tax credits. We use the amount of income left after things like income tax, National Insurance and any money paid into a pension scheme have been taken off.
So based on their information, money derived from the house sale will be classed as savings (as we assume that is where it will go ) and so not be used for the calculation. It is not as though you are getting a regular income (which is liable to tax anyway) from the house sale, it is one lump sum.
You should be fine.
If, they do go sniffing, just use Plan B which you had in place, which was to spend it on class a drugs and high class hookers
We work out child maintenance by applying one of four rates to the non-resident parent’s income. Income is earnings, money from an occupational or personal pension, and tax credits. We use the amount of income left after things like income tax, National Insurance and any money paid into a pension scheme have been taken off.
You should be fine.
If, they do go sniffing, just use Plan B which you had in place, which was to spend it on class a drugs and high class hookers
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18 June 2008, 12:04 PM
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18 June 2008, 12:04 PM
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From the csa
So based on their information, money derived from the house sale will be classed as savings (as we assume that is where it will go ) and so not be used for the calculation. It is not as though you are getting a regular income (which is liable to tax anyway) from the house sale, it is one lump sum.
You should be fine.
If, they do go sniffing, just use Plan B which you had in place, which was to spend it on class a drugs and high class hookers
So based on their information, money derived from the house sale will be classed as savings (as we assume that is where it will go ) and so not be used for the calculation. It is not as though you are getting a regular income (which is liable to tax anyway) from the house sale, it is one lump sum.
You should be fine.
If, they do go sniffing, just use Plan B which you had in place, which was to spend it on class a drugs and high class hookers
Plan B?? That was plan A
18 June 2008, 12:38 PM
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If you are using it to buy a property, I think you have a good case to argue against any involvement from the CSA, given that you are providing a home for when he stays with you etc.
18 June 2008, 12:51 PM
#13
when i sold a couple of properties a few years ago CSA took ot onto consideration the % i was earning and put it into my income for calculations
so i just bought another propery with it so they couldny touch it
as i was paying £500 a month CSA before the do gooders say i should pay !!
so i just bought another propery with it so they couldny touch it
as i was paying £500 a month CSA before the do gooders say i should pay !!
18 June 2008, 12:58 PM
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It's all relative isn't it - I mean if you were earning £5K a month and paid £500 towards the upkeep of your kids then it's pretty poor behaviour - If you earnt around £2K then its pretty good.
At the end of the day, it doesn't matter what the CSA or anyone else says, you know how much you should be paying to the upkeep of your kids, and you either feel right about th eamount or you don't.
My Ex could be earning £3million a year and I would still contribute my monthly amount because I want to do my bit for my kids.
If there is one part of life where you reap what you sew, it's how you treat your kids - If you don't do your part, it will come back to haunt you.
18 June 2008, 01:11 PM
#15
It's all relative isn't it - I mean if you were earning £5K a month and paid £500 towards the upkeep of your kids then it's pretty poor behaviour - If you earnt around £2K then its pretty good.
At the end of the day, it doesn't matter what the CSA or anyone else says, you know how much you should be paying to the upkeep of your kids, and you either feel right about th eamount or you don't.
My Ex could be earning £3million a year and I would still contribute my monthly amount because I want to do my bit for my kids.
If there is one part of life where you reap what you sew, it's how you treat your kids - If you don't do your part, it will come back to haunt you.
When you see little or no evidence of your hard earned being spent wisely, then it all gets rather annoying
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