Benefits - What am I entitled to? Is this correct?

Mara69

Bivio wrote: »

Any reason why I should be penalised for saving and building for the future rather than blowing my wages on hookers and coke?

Considering I used to pay in excess of £1,500 in Tax and NI a month I think I'm just as entitled to benefits as the next man. The fact that he may have blown all his spare cash on hookers and coke and I didn't really shouldn't have much to do with it.

Even though I think you are a WUM, I'l humour you briefly....

1) You are not being penalised for saving. Rather, you have protected your and your families future. You have saved them from having to eek out an existence on benefits, with the omnipresent threat of losing their home. Well done.

2) Paying tax means that you are paying for (among other things) other people's benefits as and when. It is a not a Government run savings pot that you can withdraw from when you become unemployed.

3) You are receiving benefits - just like the next man. However, in order to sustain our ever increasing benefits bill the Government has rather sensibly decreed that anyone with savings or assets in excess of £16k does not need the safety net of benefit. That, my friend, includes you. The Government is rather generously giving you six months of benefits, I am sure that someone as clever as you will be able to find another well paid job in this time. If not, you'll have to use your savings or sell a house.

Good luck finding another job.

Soapn

no wonder the country is in the state it's in with everyone standing with their hands out demanding money.

I'm sorry, but I wouldn't have the cheek to broadcast in public that I owned 4 properties, had money and shares of £100,000+ and an income and was asking what benefits I'd be entitled (everyone's fav word in this godforsaken country) to.

raven83

Don't feed the troll!!!!

fogartyblue.

Soapn wrote: »

no wonder the country is in the state it's in with everyone standing with their hands out demanding money.

I'm sorry, but I wouldn't have the cheek to broadcast in public that I owned 4 properties, had money and shares of £100,000+ and an income and was asking what benefits I'd be entitled (everyone's fav word in this godforsaken country) to.

I know of four different people that are asset rich, income poor.

They each own their own home, one is valued at £980,000 and the lowest £495,000.

All four were prudent in buying the most expensive properties that they could have afforded instead of investing in stocks/shares or simply hoarding capital in a bank.
They each obviously have no more than approx £9800 in savings.

All four live quite comfortable on means tested benefits (Pension Credit). Payments average at about £450 a week.
They claim anything and everything going, with three of them running a Motabilty car.

They are the ones that should be penalised as their asset cannot be touched, with one living in nearly a £1m property!

I would add that one of them is complaining to me that they cannot sell and downsize as their income would be removed from them!!

thorsoak

Bivio wrote: »

Long time user, but new ID for this post.

History: Was made redundant from a role that paid me in excess of £50K pa and am now on JSA.

Current position: Married with Children (currently at school). During the good times we were smart enough to save a bit of money. With my leaving package we now have, between cash and shares, ~ £120K. We own four properties; our home, a holiday home that we use and do not let out, two other houses which are let out. My Wife is self employed and before expences her business brings in ~ £12Kpa. All our let properties, holiday home, savings and shares are in her name as she was the lower rate tax payer. Our childrens savings are also in her name. Our holiday home is owned outright, whereas the our home and other two properties have mortgages on them.

Current Income: Wife self employment £12K pa, House Rent £11K pa, interest from savings. I have JSA and also have a claim going through for mortgage protection (privately held insurance policy)

Just ran all our details through the benefits checker and the only additional benefit we would receive to what we get now (Child Benefit) would be Childrens tax Credit.

I was expecting help with our Council Tax at least!!

Does that sound correct?

One avenue I could go down to to use our savings to as much of our mortgage off as possible, but it doesn't look as if that would increase the amount of benefits we could claim due to property owned.

Congratulations - you've obviously invested extremely well whilst you have been paid extremely well, and by putting properties into your wife's name, you have lessened your tax burden through the years.

But now the rainy day has arrived - and all those saving that you've been making are available for you to use now.

You've been self-sufficient, and will continue to be self-sufficient - how lucky you are, not to have to be reliant upon state help. :T


From each according to their means, to each, according to their needs.

Bivio

Cornish_piskie wrote: »

You aren't entitled to benefit as you have over £16k of capital.

ok, thanks

Soapn wrote:

it's mine mine mine I tell you. Give me some money and I'm hanging on to my 4 properties and £100,000+ in shares and cash.

flippin joke

Soapn wrote:

no wonder the country is in the state it's in with everyone standing with their hands out demanding money.

I'm sorry, but I wouldn't have the cheek to broadcast in public that I owned 4 properties, had money and shares of £100,000+ and an income and was asking what benefits I'd be entitled (everyone's fav word in this godforsaken country) to.

Soapn. You come across as a bit of a bitter old man, I asked a perfectly honest question. I think you're old enough to know of a saying that goes along the lines of If you have nothing good to say, then say nothing;)

Anubis wrote: »

Don't firget the 23k income!

That's before expenses which eat up about half of it.

Mara69, not a WUM at all, but thanks for your reply.

thorsoak

You'll soon be back on the up again ...good luck!

Notmyrealname

Bivio wrote: »

I was expecting help with our Council Tax at least!!

Does that sound correct?

Yes it does sound correct. You have a household income of £23k which excludes you from pretty much all means tested benefits except child benefit and child tax credits.

£120k payoff guarantees it.

£23k is a lot more than many many millions of people in this country have to live on which is why you're getting the responses you are.

The fact you have mortgages to pay is irrelevant, especially as you have payment protection.

The govt expects you to live off the £120k severance package you got which is, after all, why you were paid it.

HappyMJ

You won't get any help with your council tax.

Do you really want to sign on every week for £71 a week. As your wife is self employed why don't you join her on a part time basis helping to improve her business until you find a full time job again.

fogartyblue.

thorsoak wrote: »

Congratulations - you've obviously invested extremely well whilst you have been paid extremely well, and by putting properties into your wife's name, you have lessened your tax burden through the years.

But now the rainy day has arrived - and all those saving that you've been making are available for you to use now.

You've been self-sufficient, and will continue to be self-sufficient - how lucky you are, not to have to be reliant upon state help. :T


From each according to their means, to each, according to their needs.

But then you would have to see the peverse other side of the coin.

If they had simply spent everything that was coming in on all manner of luxury living and only had £9000 left in the bank with no assets other that say a £2m home (instead of spreading it about with 4 or more properties), fully paid for, they would receive state help.

Who then has been the mug!