Assets question help

paul01609

On the br form it asks about assets,I have listed my bike which is worth around £2400,I have a gun worth around 200 and satellite box maybe worth 300 do I list these and if I dont need to will they think I'm trying to hide items?

skylight

A satelite box? The decoder do you mean? Are they really worth that amount second hand? The gun I wouldn't bother about either; once you have paid the dealer fees etc there won't be a lot left from that.

As a general rule of thumb you should list all property and all vehicles (regarless of value) and anything else over £1000 second hand value. ORs are not really interested in anything else as fees and admin involved don't make it worthwhile.

paul01609

Thx mate just had me worried about a post made today that the or is interested in a £200 laptop

fermi

Agreed. Only the bike needs to go on the forms.

paul01609

Thx guys you put my mind at rest,I hold a gun certificate just incase the or asks

skylight

Have you checked that hold a licence wont be affected by your BR? Or affecting future renewals?? Its best to check now rather than discover your licence gets automatically revoked!!

paul01609

I'm shure it won't affect it unless I get a criminal record

the_bright_side

skylight wrote: »

Have you checked that hold a licence wont be affected by your BR? Or affecting future renewals?? Its best to check now rather than discover your licence gets automatically revoked!!

Hello,

BR will not impact a FA or Shotgun licence, only criminal convictions, depression, mental illness, aggressive behaviour / threatening behaviour, misuse of FA or shotgun or breach of terms of licence

paul01609

Many thx guys it's all put my mind at rest just need to find out what bennefits I'm going to get then will have to plucknup and book the big day

skylight

Benefits? Are you working at the moment?? If not, you are aware you possibly lose the bike? If you need the transport to get to work then they can exempt it;

Edited - Because someone pointed out I wasn't right. See Fermi's post below

fermi

skylight wrote: »

but if you are not working there is no exemption available in the guidelines.

Not quite true.

Bankrupt claims he/she needs vehicle for work

When considering whether to exempt a motor vehicle the principal points that the Official Receiver has to consider are;

• whether the vehicle is used by the bankrupt in his/her employment, business or vocation,
• that the bankrupt could not reasonably travel to and from his/her place of employment without a vehicle, due to lack of alternative transport,
• that the bankrupt’s prospects of obtaining employment would diminish without use of the vehicle, even though the bankrupt may not be in employment at the date of the bankruptcy order. In such cases, the official receiver will need to decide whether there is a reasonable prospect of the bankrupt obtaining work,
• that a self employed bankrupt who does not have work at the date of the bankruptcy order may be able to retain a vehicle as an exempt asset if he/she can satisfy the official receiver that there is a reasonable prospect of him/her obtaining work, and
• that the bankrupt’s prospect of obtaining work would diminish even if a vehicle requires repair but will then be used to travel to work or to seek employment.

The bankrupt must satisfy the official receiver that a vehicle is necessary. If the bankrupt cannot do so, and the official receiver has reasonable grounds for believing that the vehicle is not exempt, he/she is entitled to treat the property as part of the estate and deal with it accordingly.