IPA question

CJOR

Can anyone tell me quickly (as I'm doing my soa AGAIN for Friday!) if you get an IPA what income/benefit is excluded from the calculations if any????

Thanks :T:confused:

CJOR

This is the new SOA to include hubbys ESA £278.63 (he's off sick at the moment) at the time when we were originally going br he wasn't getting this amount but they have now re-instated it - so hence the urgency to get my soa correct for friday...... BUT with his money we have a surplus of £180 ish but we don't have that left ........... and the soa doesn't add up ...... i must be going wrong somewhere could someone point me in the right direction please....????

The benefits are as follows:
Working Tax Credit £284.96
Child Tax Credit £496.29
Child Benefit £143.86

Thanks :T


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 492.24
Partners monthly income after tax....... 278.63
Benefits................................ 925.11
Other income............................ 0
Total monthly income.................... 1695.98
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 103
Electricity............................. 40
Gas..................................... 0
Oil..................................... 60
Water rates............................. 49
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 560
Clothing................................ 80
Petrol/diesel........................... 120
Road tax................................ 16
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1515

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 250
Other assets............................ 0
Total Assets............................ 250

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
(Unnamed debt).................55000.....0.........0
Total unsecured debts..........55000.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,695.98
Expenses (including HP & secured debts). 1,515
Available for debt repayments........... 180.98
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 180.98
Personal Balance Sheet Summary
Total assets (things you own)........... 250
Total HP & Secured debt................. -0
Total Unsecured debt.................... -55,000
Net Assets.............................. -54,750
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

tigerfeet2006

Are you both going BR?

CJOR

yes we are :-(

tigerfeet2006

Right then you need to do 2 seperate SoA's.

On yours you put the joint household bills and your personal expenses ie travel. You then put your full income and his contribution to the joint household bills not full income.

On his you will do the same but vis a versa.

Let me have a quick look at the one you have done to check there is nothing hinky in it, then I will come back to you.

CJOR

thanks Tiger! xx

tigerfeet2006

CJOR wrote: »

This is the new SOA to include hubbys ESA £278.63 (he's off sick at the moment) at the time when we were originally going br he wasn't getting this amount but they have now re-instated it - so hence the urgency to get my soa correct for friday...... BUT with his money we have a surplus of £180 ish but we don't have that left ........... and the soa doesn't add up ...... i must be going wrong somewhere could someone point me in the right direction please....????

The benefits are as follows:
Working Tax Credit £284.96
Child Tax Credit £496.29
Child Benefit £143.86

Thanks :T


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 492.24
Partners monthly income after tax....... 278.63
Benefits................................ 925.11
Other income............................ 0
Total monthly income.................... 1695.98
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 103
Electricity............................. 40
Gas..................................... 0
Oil..................................... 60
Water rates............................. 49
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 560 usual allowance is £500. Is there any special diets? If so leave it and make a note.
Clothing................................ 80 £150 2A 2C
Petrol/diesel........................... 120
Road tax................................ 16
Car Insurance........................... 30
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0 do you both use the car? Or does one travel by bus etc.
Childcare/nursery....................... 0
Other child related expenses............ 20 £5 per child per week activities. £2 per day primary and £3 per day secondary school lunches
Medical (prescriptions, dentist etc).... 20 put £20 on both
Pet insurance/vet bills................. 0 do you have pets?
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 0 £80
Emergency fund.......................... 0
Total monthly expenses.................. 1515

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 250
Other assets............................ 0
Total Assets............................ 250

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
(Unnamed debt).................55000.....0.........0
Total unsecured debts..........55000.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,695.98
Expenses (including HP & secured debts). 1,515
Available for debt repayments........... 180.98
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 180.98
Personal Balance Sheet Summary
Total assets (things you own)........... 250
Total HP & Secured debt................. -0
Total Unsecured debt.................... -55,000
Net Assets.............................. -54,750
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Some figures to play with.

CJOR

Also just to throw a spanner in the works - I have an Army pension due out in 2032 so a long way away and is worth about £580 (yup not alot!!) will the OR be interested in this and take it away??

AND

Hubby's parents took out a £100 premium bond for his daughter about 8yrs ago and they put it in his name will he have to put this on the form as technically it is not his and he can't get the money for himself it's for her??

Thanks again......

Can you tell I'm getting stressed !! lol

CJOR

I am now looking thanks Tiger ! x

tigerfeet2006

CJOR wrote: »

Also just to throw a spanner in the works - I have an Army pension due out in 2032 so a long way away and is worth about £580 (yup not alot!!) will the OR be interested in this and take it away?? Not 100% but don't think so. It might be worth starting a seperate thread to ask that one.

AND

Hubby's parents took out a £100 premium bond for his daughter about 8yrs ago and they put it in his name will he have to put this on the form as technically it is not his and he can't get the money for himself it's for her?? Is her name anywhere on the paperwork?

Thanks again......

Can you tell I'm getting stressed !! lol

If it is then don't worry. If it isn't then forget to mention it as you think of it as your daughters. If at any time the OR asks about it then just say what you have said here and hopefully he will have a heart and let you keep it, but he doesn't have to.

I have seen OR's take £1 PB's and when someone has forgotten abot theirs the OR has never mentioned it, so you never know.

CJOR

Yes her name is on the bonds! :-)