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Kasare
Kasare, Solicitor
Category: Family Law
Satisfied Customers: 204
Experience:  Solicitor, 10 yrs plus experience in civil litigation, employment and family law
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This question is concerning my divorce settlement.In

Customer Question

This question is concerning my divorce settlement.In January*****order determined that I receive net dividends totalling £140,000. My ex wife created a class of non voting shares in her company in my favour to attract dividends. These dividends were to be paid £30,000 per 6 months from 30/6/2013 to 31/12/2014 followed by a further dividend of £20,000 net payable by 30/6/2015 ( a total of £140,000 ).
My solicitor transferred the shares to my ex wife when the last dividend was paid.
I have since incurred a tax liability on the dividends received and had to pay tax of £31,813.82.
I understand that the dividends payed to me should therefore have been in excess of £140,000 to ensure that I received this sum net of tax.
My solicitor wrote to my ex wife informing her that the dividends were net of tax and asked for a refund.
My wife's reply ' The gross dividend payable by a company is the net dividend " grossed up" by the available tax credit. Therefore the requirement of her company was to pay net dividends after 10% tax credit totalling £140,000. This has been completed and accepted by your (me) client by the subsequent transfer of the shares. I will be making no further payment '
Would you please advise me on this matter. Since I have paid a large sum of money during the divorce proceedings.
I have since engaged an accountant and have paid solicitors fees second time around ,when I feel this matter should have been settled during my divorce.
Thank you
Ferdinand M Vncent
DOB 7/12/1937
Submitted: 5 months ago.
Category: Family Law
Expert:  Clare replied 5 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

What is the exact wording of the Court Order regarding this?

Expert:  Clare replied 5 months ago.

I will still need the exact wording written down to give a response I am afraid.

Also are you aware that a phone call will cost more?

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