variable income

hunt85

what do you put on your SOA if you have variable income? i get overtime etc and have only been in my job since march, so i don't know what tax etc i pay coz it always changes with my monthly income increasing or decreasing. also my other half took a loan out for me a couple of years ago which i pay him monthly and he pays the direct debit. he is now going to add this into my rent instead of paying it separately to him so that i continue to pay it post BR - will this be ok? surely they can't make me declare that in my BR since technically its only in his sole name.

Thanks

skylight

You cannot declare a loan that is not yours, because legally it's not yours! However, adding it to the rent may be difficult. The OR will want details of the rental agreement and see a copy of your tenancy and they may question why your share of the rent is higher than your partners (the OR will also want to know what your partners £ contribution is to the household). Adding the loan amount you may is not neccessarily the correct thing to do, but if you feel you can hide it..... Be aware that there would be consequences if discovered (it would be regarded as deliberately hiding assets etc).

As to the job, you will need to average your salary. I assume that its because the hours change rather than the hourly rate? Or are you self employed? The OR will average it out too and will probably use the last 3/4 months of pay slips.

hunt85

i get paid overtime for coming in early some mornings and also for saturdays, which is 3.5 hours at time and a half for every saturday i work, and standard hourly rate for the time i come in early (max 1/2 hour per day) i am full time on a contract salary, this is just extra.

I don't want to conceal the debt in any way but i need to keep paying it as its not his fault i am going bankrupt and i don't want him to have to start paying for the loan. I guess i could just bump up my SOA a bit to cover it (its £123 per month) but i don't want to be misleading, maybe adding it to the rent is the wrong idea. Also my partner owns our flat, i pay half the mortgage as "rent" but nothing is in my name. So i can't show any rental agreement etc, although we could draw up a rent book if this would be helpful to the OR?

hunt85

just bumping this up! bump!