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Hi all,
I’m in the middle of sorting financial disclosure and it’s getting tense. I run a small limited company. It’s basically just me, I pay myself a salary and some dividends when there’s profit. It’s not some massive operation, just how I earn a living.
My ex has suddenly started saying the business is “worth loads” and that he’s entitled to half of it. He keeps throwing around numbers that are way higher than anything I’d ever imagined.
Now I’m panicking that I’ve completely misunderstood how this works. Is the business valued based on turnover? Profit? The money in the company account?
Also, if it is valued, does that mean I have to actually sell it to pay him out? Because that would literally mean losing my job.
I don’t want to hide anything and I’m happy to disclose properly, but I’m scared this is going to turn into a fight over something that is basically just my income.
Has anyone been through this where a business got dragged into it? How did it actually play out in reality?
Would really appreciate hearing from someone who’s been there. Feeling pretty sick about it all if I’m honest.