Limited Company and Child Maintenance

[bakedapple]

I lost my job last year and have recently started contracting as a stop-gap until the job market picks up. As I had no income, I was no longer liable for CM payments. The work I picked up requires me to have a limited company of which I am a sole director.

Whilst its a good day rate, I'm expecting a number of good months and a number of fallow months over the forthcoming year.

At what point is CM assessed from a limited company? I've not yet needed to draw a salary, as I've been surviving off my tax-free redundancy payment - and potentially won't need to draw a salary for a few months yet.

Am I right in assuming that CM is only assessed when I withdraw the money from the company either as salary or as dividends? And any retained profit at the end of the company's tax year can be kept for a rainy day?

 

[Roblox]

It's probably worth speaking with an accountant that knows about cm.

I believe if a company it's what you take as salary or dividends as you mention with the company being a separate entity. However, I know there's been a lot of clamping down on self employed and those perceived to be dodging cm