One Off Payments

singingsister

How do I put in the income/expenditure one off payments like car insurance? Last January we had the spare cash to pay our car insurance in one payment so we don't have a direct debit for this. Do I just estimate a rough figure (can't do exact figure obviously) for next year and divide by 12?

The same applies for car tax. You don't pay for that monthly - either a 6 month tax or 12 month tax.

How do you notate them?

fermi

Put a monthly figure. Divide by 12. The OR will know that these aren't always exact.

If any major discrepancy occurs then you can discuss this in your interview.

If you want to make the point that you have estimated, then mention it in section 13 that is for additional info.

Don't get too hung up on getting the I&E precise. It's just a starting point for the OR, and not set in stone once you've done the forms. You can re-discuss it if necessary in your interview.

singingsister

Thanks Fermi.

What happens if on your income and expenditure (not including your debts of course) your outgoings are STILL more than your income (by about £50)?

tigerfeet2006

Then you explain you are doing your best to bring it under budget if they query it.

If you would like someone to check it then post it up. Fresh eyes sometimes see different things.

singingsister

Thanks TF.

I'll start a new post for it.


Keep your eyes peeled!