Here's my SOA

mike1966_2

Hi all here's my SOA
Outgoing per month

Rent 252
Water 36
Council tax 100
Gas 50
Electric 94
Food shopping 480
Sky subscription 47
TV licence 15
Home Phone and mobile 60
Car and Van tax 34
Fuel for both 280
Car loan 125
Bank loan 70
Car insurance 36
Van insurance 22
Liability insurance 10
NI contributions 10
Yell.com 88
Visa 30
Provident credit 240
S & U credit 220
Greenwood credit 220
Buy as you view 60
Business debt 150

Total £2557

Income Per month

Child/working tax 876
Child benefit 225
Self employed income 680
Other income 520

Total £2301

sieve

Hi Mike,

If you use the form here it will help draw out one in more detail - we'd need to know creditors details and assets etc before we can suggest things really.

Try this one and we should be able to sort you out

http://makesenseofcards.co.uk/soacalc.html

Cheers,

S

mike1966_2

ok sieve i'll be a while

thanks
mike

skylight

mike1966 wrote: »

Hi all here's my SOA
Outgoing per month

Rent 252 Cor - is that all??
Water 36
Council tax 100
Gas 50 Double check readings/bills so you are upto date on expenditure. Prices have gone up, over winter you can justify the extra. £60.
Electric 94 Likewise.
Food shopping 480 This is for 2 adults, 4 kids and 2 extras at w/e ????(unless I am confused with another poster!) This can be £600. Its a lot of mouths to feed, and worked out per head/per day, its not a lot.
Sky subscription 47 Cannot be on your SOA. An OR will not permit the allowance. You can keep it, but have to pay from your allowance.
TV licence 15
Home Phone and mobile 60 If this is for business, then its low. As its business and you have bills to prove it, then you can have what you actually spend.
Internet - 15 Claim that its essential for your business? You have a website and stuff??
Car and Van tax 34
Fuel for both 280
Car loan 125
Car insurance 36
Van insurance 22
Liability insurance 10
NI contributions 10
Prescriptions - 15
Opticians?? - 20
Clothing - 90 (Cos there are a lot of you)
Kids Activities - 50 (May not be allowed, but include it anyway)
Birthdays/Xmas - 50 (again, maybe not allowed but include it)
Holiday - 50 (surprisingly you are allowed a holiday fund, but not an emergency one!)


Total £1974

Income Per month

Child/working tax 876
Child benefit 225
Self employed income 680 This is AFTER your tax?? You have NI contributions above, but no tax. Make sure you take it off here.
Other income 520 Where is this from?

Total £2301

Although the child benefit is not included to work out an IPA, that leaves £102. We need to add something else to the list. It your surplus is over £99 an IPA can be applied at 50% of the surplus.

mike1966_2

Hi I live in wales and dont pay for scripts or eye testing
I dont pay tax cos i dont earn enough

mike

Merry_Gentry

If you put £285 for fuel for both vehicles, that allows for any changes at the pumps.