Any advice?

FrenchMaid_2

HOLIDAYMAD wrote: »

Just to add i dont know where you are in the midlands, but bham or coventry to london is a common daily commuter run, many trains out there and prices can be quite reasonable if you buy travel cards in zones ie a get a weekly train card to coventry , then another one to euston , it can bring prices down massively

Birmingham is only 1.5 hours each way.

Yes he will be out early and tired by a friday but home at least at night , i have contracted for the past 5 years and its a killer being away from home.
On approx 1500 gross per week, i think the train each day would halve your costs easily, maybe one night per week in a B & B to break it up.

After 5 years of being away, i would say i got to the point that i was on my knees with exhasution and missed my home life terribly.

We had a look into that and the railcard for him was £880 on Virgin. Plus where he works he is expected to work late, often not finishing before 8 or 9 but he would love to do that because at least he would see the kid in the morning every day.

FrenchMaid_2

dojoman wrote: »

If this is how you genuine fell then I suggest you contact the Samaritans ASAP.

If it is being said in a flippant manner then I find it highly offensive after l losing 2 family members to suicide.

I am not saying anything in a flippant manner. I will be ok but at the moment I feel like there is no way out. I am sorry about your loss and I don't want to offend anyone.

dojoman

FrenchMaid wrote: »

I am not saying anything in a flippant manner. I will be ok but at the moment I feel like there is no way out. I am sorry about your loss and I don't want to offend anyone.

Then please contact someone ASAP, you will always find it better to talk to someone than do it via a forum.

confused76

FrenchMaid wrote: »

so upset now. whatever I do, wherever I look there seems to be no solution. contemplating ways to die so my husband can claim the life insurance.

i think once you speak to the business debtline things will become clearer. you're in a confusing, scary place right now but there will be a way forward. i think you need to know your options and then you can choose which route to take

good luck

FrenchMaid_2

HOLIDAYMAD wrote: »

When you become self employed or in your case work as a freelancer you can work in three ways.

Sole Trader- direct to you is the payment then you off set capital and expendture
Limited Company Status- this is a pain so id avoid this unless you get really good advise.
and being paid via a umbrella company

i use a umbrella so i pay the full stamp if i need benefits such as incap or jsa , i get a gross amount, that is sent to my umbrella company and i submit all my expenses , expenses are not taxed so if your weekly salary is 1000, and your expenses are 400 you pay tax on the 600 , the charge to use a umbrella is low, and you will come out with a lot more than the PAYE system and would not be prob paying 40 % on tax.
if his work is sourced via a agency they normally offer you two ways of working paye or limited , limited means they send the gross to the umbrella and the umbrella pay you.
PAYE allows you holiday pay and normally for those without expenses, my umbrella pays out to 3k people each week and there are tons of them out there.

Google umbrella companies, they do have set levels for bfast, lunch and dinner and a overnight expense, but accom and rail is 100% tax deductable, mileage is normally 40p for the first 10k then reduces to 25p thereafter . Phones, trade subscitions, stamps, stationary etc etc can all be added in as well , most will need receipts.

Id chose one that allowed as much to be considered, most dont ask for receipts for accom under 45 pound per night or evidence of such , over that most ask for a receipt.

On the point of 18k with your income it would in fact pay most of the bills with your income, you may find not much left over, but to be honest most people do not have much left over, living costs are the highest expense we normally have.

Your priority bills are:

Mortage
Secure Loan
Ctax
utility bills
houshold contents and building and life assurance, critical illness cover is not a priority
TV licence

The rest of your expenses are more or less a life style choice factor. i can get buy on 40 pound per week food , that is for a couple and fresh food for the dog. if needed though id have to reduce it and live off budget priced items ie 9p for a tin of baked beans.

So what ever those main ones are is really what you have to pay out to live and have accommodation, after that its down to you.

Someone on JSA as a single person lives on 65 pw, that is it, yes there rent and council tax maybe paid , but that 65 pound pays for bills, food and any extras, the OR is not going to allow you to have a lavish liftestyle over some one on benefits.

My last flat in london in a good area which was a one bed , 10 years ago was 650 pcm. Rentals are really high at the moment in the london area so id be sur!!!!ed if you gained on accom costs if you relocated.

Isn't that dangerous trusting an umbrella to do everything for you? What if they go bust, or don't pay your taxes, or commit fraud? You still will be liable for it. I will look into it but leaves me a bit scared.

We wouldn't move directly into London but in a place like High Wicombe where you can get a two bed house for about £800.

And I disagree that 18k plus my income would cover all of the bills. Bills alone i.e. mortgage, secured loan, credit cards and utilities alone is more than the income would be.

FrenchMaid_2

dojoman wrote: »

Then please contact someone ASAP, you will always find it better to talk to someone than do it via a forum.

thank you, I think I will speak to my husband instead.

HOLIDAYMAD_2

They are legal and are audited and have to be regulated they are just like a accountant, most supply teachers work this way as does most of the IT industry and many are on inteim contracts that work for the insolvency service who use them as well, in fact my OR was well up on umbrella companies as i suspected they worked through one as well.
SAn umbrella is more likley to get it right then doing it yourself, i get a wage slip and p60 each year , my contributions have always been paid and i pay aroudn 27 pound per week for the service which saves me tons and is totally legal, in fact i come out with nearly all my gross minus around 50 pound..

I hoped to give you some ideas to bring your husbands costs down and giving him time at home , even that train fare cost per month is lower than what he is paying currently , i do think you need to explore further, maybe he can do compressed hours therefore being away say on 3 nights per week, i always negoiated a 4 day week even i did a 12 hour day as a result .
You said in your opeing post that your average income was around 1200 per month then a 18k salary would prob give you a nett combined monthly income of approx 2k, your currently on one of approx 5k with your husbands income . your main costs are just over 1100 pcm for the mortage and loan.

Your mortage and all essential costs not inc credit card repayments and food are under the 2k marker,

if you stopped paying and using the CC then all the charities can advocate for you a reasonable payment plan with prob nil percent intrest, your credit will be stuffed but you wont have the same outlay.

if you go BR you can keep currently 20 pound surplus , so the OR will prob put you in a suitation that will be a massive struggle, as most of your husbands earnings will be taken as part of his IPA. you were shocked with finding out why they would allow for food and not giving a penny towards gifts, that is the reality its a tough process for those that work, no way will you be able to save or have ballet lessons etc.
i say statement that on a rent of 800 pcm with normal utility expenses, your food costs are massive and you would have to bring them down.

By looking at other options first may help you then if they fail consider BR.

I cant really see how business debt line is going to help as you dont appear to have a business debt, its advise on how to operate and make his work pay is the advise you need.

BR is not a easy way out esp if your working , it has massive implications on long term renting, no credit , hp , future finance , hike up insrance costs on renewal ect and even jobs etc etc and a credit record that is destroyed .

Problem is when we address debt and money management it takes a long time for us to ee our errors , that is not a judgement against you but we have all been in that dark place and cant see a way out.
In your case you have a good income and i think a lot is money management .

But its money not life and death so get the best advise possible and start to work through all those plans. if the house is lost so be it , but dont expect a easy ride with agents as a BR, most will knock you back.

kepar

I agree about Umbrella companies , I used one for three years until I got ill. Very useful in that after a await of about 2-3 weeks you get paid weekly. They are well registered and as long as your time sheet and expenses go in on time, there is no problem.
A couple of points though has your other half looked to rent a room, sometimes home owners will take in professional people for around £400 month. This way he can buy his own food etc. Also he will have a permanent base to work from.

As reference the car Obviously you need it, but how often do you need it. If you only using it once a week for your job could you hire one?
What about leasing one and putting into your business and therefore tax deductable.

I think you missed the point as to what I was saying in my earlier post as in if you are in a position to g g bankrupt go bankrupt. It is an easy option, but please explore a few more avenues, because the aftermath of br especially to those who have good jobs, careers can be painful. Looking at your figures the OR will expect you to pay an IPA and it could be large.

HOLIDAYMAD_2

umbrella companies are the biggest legal loop hole in the tax system, use one and you will never regret it as the OP says just make sure your timesheets are in with expenses, i have never ever been paid late.

ive also rented rooms in the past , spare room .com , eveing standard in london, loot etc.

and if your husband googles contractor accommodaiton, i cant remember the company name there is one based in london that will find him accom for no charge, even cheap B & B.

Kepar is bang on it when they say BR is a easy option but can have massive implications if your a good earner. in fact it may be time to drop the earning power if you go BR, then after discharge and say no IPA was awarded then get back on the earning power.

Non payment of your mortage and loan will give you months to save for a rental if your not currently in arrears , it would be a long process before you would be repossessed.

tigerfeet2006

Right then sweetheart, lets put together all the advice you have had.

First of all if you decide on BR then NDL are perfectly correct if you want to move nearer your DH's job.

Stop paying Mortgage, secured loan and any other debts. Still pay council tax, utilities etc. Save that money for rental, deposit, moving costs and BR fees. Find and move into new property. Get settled and then go BR. There are few other things you need to know with leaving your house but they can be covered later.

The OR understands that you need to get accomodation and has seen many people do it this way.

With your SoA you need to take all business expenses out of your gross income and then this leaves your net income. This includes your NI, tax, travel costs, phone costs etc. Your SoA should show your home costs.

Now start breathing and calm down. There is a way for you and you can do it. There is a lot of support here for what ever you decide. Keep asking questions and reading posts on here and asking questions and reading. But above all remember you are only human and remember you have been through a tough time and you are entitled to feel a bit frazzled. But above all remember you are not a criminal.

And breath.