Should Boyfriend move in?

Mojisola

As you are separated and not divorced, have you written a will? If not, if you died your husband would inherit from you. If that isn't what you would want, you need a will.

esoralle

ha! No I haven't done a will yet, but there is only the debts to inherit anyway and I don't think he'd want them!!!

HappyMJ

You do have life insurance....don't you?

esoralle

nope, oh dear this is not where I was plannign on going with this

flea72

when your BF moves in, his income means you will be moved onto the lowest rate of CTC/WTC which is £210 a year

however, at present, even based on your own income, you still shouldnt be getting any more than basic rate CTC/WTC of £545/yr - yet you seem to infer you get more than this

the payments your ex makes to you, can only be lowered if he declares that he is living with his girlfriend, and she is prepared to give all her info, ie details of her own financial situation. if she wont do this, then her children cant be taken into consideration, when they makes a decision on payments due

F

esoralle

I think it is because I was on income support last year and earnt nothing, next year when it is accessed my earning for the year will be around £24500, which is nearly £25K more than the earinings the year before (which was about £4000), so as I understand it, as of the next tax year I will most likely come down to the lower CTC/WTC as you say, although I have deliberately tried to keep my earnings under £25K in the hope of getting the higher rate of tax credit, but I can not make any sense of the system.

janninew

Do you love your boyfriend and want to share your life with him and your child? If I were in your position, sharing my life with my partner would be far more important than how much I would lose in benefits!

esoralle

I do and I do, but I know how struggling financially kills relationships, I am used to being self sufficient (kind of with the tax credit help). It's not all about love though there are practicalities and unfortunately money is one of them!

janninew

esoralle wrote: »

I do and I do, but I know how struggling financially kills relationships, I am used to being self sufficient (kind of with the tax credit help). It's not all about love though there are practicalities and unfortunately money is one of them!

I understand that, but you would, by most standards, have a healthy household income and be sharing your everyday life with the man you love. I would live on next to nothing as long as I shared everyday life with my hubby, but we are all different though and all have different priorities.

flea72

esoralle wrote: »

I think it is because I was on income support last year and earnt nothing, next year when it is accessed my earning for the year will be around £24500, which is nearly £25K more than the earinings the year before (which was about £4000), so as I understand it, as of the next tax year I will most likely come down to the lower CTC/WTC as you say, although I have deliberately tried to keep my earnings under £25K in the hope of getting the higher rate of tax credit, but I can not make any sense of the system.

£25k isnt the cutoff point, its actually somewhere around £23k where you move onto basic CTC. but why limit your income potential just for a few measly extra pounds from tax credits?

with the disregard working in your favour, you could have earnt up to £29k, before you would have had to notify them of any changes, so you would have been bringing in more money, and still getting tax credits based on your £4k, without the fear of any overpayment

however, i find it strange that you say you will earn £25k next tax year, but you will have earnt £24.5k this tax year. so if you werent working when you filed your tax credits claim in april, how come your income is nigh on what you will earn over the coming 12m period?

F