SOA for a family of 5 - Please can you have a look!!

Zandytobedebtfree

Only DH works as I am a SAHM with 3 kids and 2 are under 2!!

DH has a company car, which he gets personal use for and I have my car. Sorry didn't make this clear before, my mistake

So this is why we feel that my car will be taken.

Zandytobedebtfree

I have amended the SOA, as read on another post that they were not allowed Holiday!!

So I have upped my Shopping to £580 to include the nappies & Baby milk that I have to buy for my Baby & Toddler (3m & 16m). And the cat food for my 6 cats!!!

I have also removed the amount for Birthdays, Christmas etc.

So please have a look and let me know, if you feel that I should have kept the Holiday amount etc, or if you think that I should put something different.

All your help is much appreciated

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 0
Benefits................................ 905
Other income............................ 0
Total monthly income.................... 2105

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 105
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 0
Groceries etc. ......................... 580
Clothing................................ 150
Petrol/diesel........................... 43
Road tax................................ 15
Car Insurance........................... 34
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 110
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 35
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2087


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,105
Expenses (including HP & secured debts). 2,087
Available for debt repayments........... 18
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 18

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 500

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

dalip

I have been on this forum for 18 mths now,give or take,and that is the first time i have seen the holiday disallowed. Mine was allowed:D . I would leave it and see but make sure that by removing it(if the OR decides to)it does not throw you into IPA territory;) . I would be tempted to lower H/K to say £550 and up gas and electric to £60 each. You could then argue that with 2 under 2's that heating and electric are essentials;) . Does your OH have use of the company car at weekends? Is there any time when he has to use your car to get to work;) ?. What is the value?. Dx

Gos it's all winks today.lol

Zandytobedebtfree

OK will put Holiday back on, and put Shopping to £550 - Many Thanks

Yes DH does have use of Company Car at weekends etc, so No he unfortunately does not need my car for work!! His Tax code is reflected to cover the personal use for about £1900 per year. This is why we are doing BR in March, so he does not get a no tax code IYKWIM

If I did put £60 each on gas & electric, do I have to prove the figures to the OR?? This is a worry of mine!

You are all so :A on here and I thank you for it xxxxxx

philnicandamy

Zandytobedebtfree wrote: »

OK will put Holiday back on, and put Shopping to £550 - Many Thanks

Yes DH does have use of Company Car at weekends etc, so No he unfortunately does not need my car for work!! His Tax code is reflected to cover the personal use for about £1900 per year. This is why we are doing BR in March, so he does not get a no tax code IYKWIM

If I did put £60 each on gas & electric, do I have to prove the figures to the OR?? This is a worry of mine! The OR has a rough idea of figures....if it was considerably larger then they would ask for proof....£60 each is pretty standard infact i've seen higher

You are all so :A on here and I thank you for it xxxxxx

Hope that helps

Zandytobedebtfree

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 0
Benefits................................ 905
Other income............................ 0
Total monthly income.................... 2105

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 105
Electricity............................. 50
Gas..................................... 60
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 18
Internet Services....................... 0
Groceries etc. ......................... 550
Clothing................................ 150
Petrol/diesel........................... 43
Road tax................................ 15
Car Insurance........................... 34
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 110
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 30
Emergency fund.......................... 0
Total monthly expenses.................. 2102


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,105
Expenses (including HP & secured debts). 2,102
Available for debt repayments........... 3
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 3

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 500

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

dalip

Looks good.Even if he/she takes the car off you,the allowances( which would then be void) don't push you over the limits. Think you should go with that. I have reservations about a certain allowance:p but wait and see.Dx

combo81

Sorry if Im dumb here, but if you get 1200 a month then how do you get HB? and that amount of tax credit? Is he not supposed to be living with you?

I get 1375, no HB and 300 tax credit for me, mrs and three kids.

Also, 550 for croceries!! How will this be seen as appopriate. We spend 240.

And it looks like you dont have any debt??

Jaynee123

Combo81 I take it that your not br or intending to go br. A soa for a br has too be treated differently to a soa for a dfw. Thus we use certain amounts that we know will be allowed by the or for expenditure so that we can survive emergencies etc without credit! It called imaginative accounting! Theres a difference between "surviving" and "living" and the or doesn't want people who are bankrupt to slip back into using credit so the amounts are reasonably generous and what you do with your surplus is your business.

Jaynee 123

Zandytobedebtfree

combo81 wrote: »

Sorry if Im dumb here, but if you get 1200 a month then how do you get HB? and that amount of tax credit? Is he not supposed to be living with you?

I get 1375, no HB and 300 tax credit for me, mrs and three kids.

Also, 550 for croceries!! How will this be seen as appopriate. We spend 240.

And it looks like you dont have any debt??

Hi combo81

if you check this site, and put in all the details that it asks for, then it will tell you if you are entitled to claim any other benefits. This is what we did and it told us we could claim for HB. Would never thought of applying for HB before we checked this site!!! Give it a try!!

Also we have just updated our details due to new DD, and we are now entitled to Council Tax Benefit as well!!! :T All of 4p per week!!! :rotfl: All comes in handy !!

http://www.entitledto.co.uk/entitlementcalculator.aspx

PS - I can assure you that we have a load of debt, and this is why we are both having to go BR