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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34887
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have a limited company of which my husband has no shares

Customer Question

I have a limited company of which my husband has no shares but did work within and received a salary, will this be included in our divorce?
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Thank you for your question.
My name is ***** ***** I will do my best to help you
Given the length of the relationship then yes this is an asset which will be considered as part of the matrimonial assets when the court considers the financial settlement
Please ask if you need further details
Customer: replied 3 years ago.

The balance sheet at the end of June 2014 shows a negative value as it made losses, we have loans outstanding (approx £300k) part on a property, and own about 50k worth of equipment before depreciation. Also owe a tax bill of £160k. That said, we are still trading and both me and my husband get a salary. I am 100% shareholder and managing director, the company would not trade with out me and that is not disputed. My husband is disabled and cannot work in the business other than very part time in a reduced role now. How would this picture be viewed? I am worried about losing the business and our income. Three children are working in the company too.

Expert:  Clare replied 3 years ago.
How much income is there from the property?
Customer: replied 3 years ago.

between the 5 of us we take about 200k per annum

Expert:  Clare replied 3 years ago.
What assets does the company have?