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Going to be splitting from civil partner of 6 years... struggling to work out what my liability is for debt, and concerned that I will end up being liable for more as worried that partner is not declaring their income correctly.
Partner has own business, but never seems to mention tax being paid or seems to pay much/any- our finances are fairly joint and open and I know there are no savings so where is the tax being paid out from? I am not a partner in this business, not employed by the business and not involved in the tax returns, but do help with the work on a regular basis, unpaid. I am employed and work out of the home.
My concern is that on paper, if partner is not declaring tax correctly, it will appear that they earn much less than I do, being employed. I am worried that they will say that because I have a higher disposable income on paper, I must take more of the debt.
The debt is in the region of £30,000 spread over credit cards, shopping accounts, car payments, etc. Only one credit card and two shopping accounts are in my name, the rest are in partners name. We do not have any joint debts, but the debt was technically spent jointly.
The house is rented and is in partners name solely.
I will be leaving all assets, except a small number of furniture items given to me by family, and my personal effects - clothes etc.
Can anyone advise as to what level of liability I have for the debt, and whether that liability changes if partner tries to claim they earn much less than me? and whether I can barter any of the debt considering that all of the items that the debt was created buying - furniture, household items etc, will be left behind and retained by my partner?
Partner has own business, but never seems to mention tax being paid or seems to pay much/any- our finances are fairly joint and open and I know there are no savings so where is the tax being paid out from? I am not a partner in this business, not employed by the business and not involved in the tax returns, but do help with the work on a regular basis, unpaid. I am employed and work out of the home.
My concern is that on paper, if partner is not declaring tax correctly, it will appear that they earn much less than I do, being employed. I am worried that they will say that because I have a higher disposable income on paper, I must take more of the debt.
The debt is in the region of £30,000 spread over credit cards, shopping accounts, car payments, etc. Only one credit card and two shopping accounts are in my name, the rest are in partners name. We do not have any joint debts, but the debt was technically spent jointly.
The house is rented and is in partners name solely.
I will be leaving all assets, except a small number of furniture items given to me by family, and my personal effects - clothes etc.
Can anyone advise as to what level of liability I have for the debt, and whether that liability changes if partner tries to claim they earn much less than me? and whether I can barter any of the debt considering that all of the items that the debt was created buying - furniture, household items etc, will be left behind and retained by my partner?
to LB
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