Confused about tax credits!

BoGoF

Does the mortgage company know he's moved abroad, do they know the property is unoccupied. If he's left with no intention to come back you should speak to the lender.

Amicable at present it may be but sooner or later this arrangement is going to affect your current relationship.....

dawyldthing

does the childs other parent pay child support? As this could go some way to paying the morgage.

Sam____2

dawyldthing wrote: »

does the childs other parent pay child support? As this could go some way to paying the morgage.

The op is with the child's father.

sick2death

in the real world, income is irrelevent, disposable income is what you survive on.

My brother in law works in a very well paid job in the city. But because of where he works, his commuting costs (public transport) each month are ridiculous, and the mortgage is massivley expensive.

The OP is in a similar situation. You've got costs such as childcare and bills, which you cant do a great deal about. Some people may consider 2 cars a luxury, whereas for you they are more a necessity.

As has been mentioned things will get easier when the 2nd house sells etc, but realistically, if you want a better standard of living, or just to be more financially "comfortable" the only way you will be able to do this is to either up your income, or reduce your outgoings.

Everyone deserves a few luxuries, why work if you cant enjoy atleast a little bit of your own money. But still, the bills have to come first.

Have you considered selling your current home also and renting? Would it work out as any sort of saving over your current mortgage?

Then maybe in a few years when your child is at school, and your childcare costs are much lower, your 2ns house has sold, and maybe convinced your OH to sell his bike (!) you could then look to buy, as you will have way more disposable income, and benefits to you, would be a drop in the ocean.

Best of luck.

zagfles

diet_pepsi wrote: »

I'm trying to work out if we're entitled to any tax credit help, as me and OH are living on a shoe string budget at the moment!

I live with my OH in his house that he owns with a mortgage. We have a 9 month old. We are not married.

He works a 40 hour week earning about £35k, and I work a 25 hour week earning about £22k.

DS goes to nursery, which costs £700/month.

I own a property with my ex (so half a property!), which is currently on the market and empty. I can't rent it out as it would make it too difficult to sell should the tenant wish to exercise their legal right to quiet enjoyment and refuse all viewings.

I tried filling in the details on "entitled to", but it's just too confusing. It asks about a second property, so I presumed I had to say yes, even though I don't actually OWN a second property. I only actually own half of one!

Although we earn a reasonable salary between us, with a mortgage each, bills, food, nursery costs, and running two cars, we're only just breaking even.

What makes it more annoying is that if I fill in my details on "entitledto.co.uk" living alone with DS in my property (which is just a few miles away...), then I'd be entitled to around £9700 of tax credits and child benefit per year!!

Obviously I'm not willing to lie about my living arrangements, as I'm a moral person, but surely we must be entitled to SOME tax credits??

Is there any sort of helpline where they will help you with complicated scenarios like ours?

No, with just one child you won't get any tax credits even with your childcare costs.

Does your employer do childcare vouchers - most do as it saves them NI, if so go for these as they'll save you tax & NI.