Oh boy do i need help!

franney

You must be getting some income, as others have metioned maintenance from your husband is counted as income.

If it is truly 0, you should pop down to the DSS office as your probably entitled to soemthing in the region of £600 per month ! substantially more than you will earn from the £10k per month, so maybe wise to ahem spend the money down to £3k limit for benefits and claim.

SPEND IT?! Nooooooooooooo!!
As i have now tried to explain, albeit badly, my partner works, i don't. Nor do i receive any benefits or maintenance. I am incomeless *lol*

deemy2004

Have you tried applying for some, you 'may' be missing out.

Though for every £250 saved above £3k the DSS would take off £1 per week.

franney

Have you tried applying for some, you 'may' be missing out.

Though for every £25 saved above £3k the DSS would take off £1 per week.

i haven't applied and i do not intend to to be honest, we've managed alright for the last five years or so and now i have this payout it just wouldn't be worth it because i have no intentions of spending it all just so i can sign on *lol*

deemy2004

In which case your a non taxpayer and whichever savings account you open fill in R85 to get your interest gross.

Also, if your partner has a load of savings he may be better off putting them in your name to get the interest gross.

franney

Well, i have made a start and opened an Egg account
All i need now is some money to put in it!!
evil mothers-in-law
I'd like to thankyou all once again for the help, i really do apprecite it

johnllew

In which case your a non taxpayer and whichever savings account you open fill in R85 to get your interest gross.

You can download and print an R85 HERE. There is also a helpsheet with it.

franney

You can download and print an R85 HERE. There is also a helpsheet with it.

Thanks John, that'll come in handy i am sure
You can change your tax status online with Egg so that was a bonus

juliesutcliffe

Glad your getting sorted Franney. Our situations are pretty similar although i'm not divorced(yet!). So the form is important to fill out. Also good suggestion to get any savings your partner might have into your name for tax reasons, if he can trust you! Take care, good luck

franney

Glad your getting sorted Franney. Our situations are pretty similar although i'm not divorced(yet!). So the form is important to fill out. Also good suggestion to get any savings your partner might have into your name for tax reasons, if he can trust you! Take care, good luck

Thanks Julie, i will have a chat with him about his savings

I am now off to find out which is better... a savings account with a fixed rate of interest or one with variable

franney

OH Yay! i'm back with another question ;D

What happens at the end of the year when both the regular savings acounts are finished, can i start over paying in the monthly installments or do i have to do something else?

Sorry for being so dumb, i am only an Essex girl ;D