Soa

bruciebounus

Please can you have a look at my boyfriends SOA below. He is self employed, so his earnings do vary, but I have taken an average. We live together in my house, I pay the mortgage and he pays extra for certain bills, not sure if they will allow that?

For the car costs, he rents his car for work, so has insurance etc included in that.

I've not put anything down for holidays or emergency fund, as he hasn't previously been able to afford to put anything aside. But if this is allowed it would be really helpful.

The mobile phone is high but the contract does not end until December (contract is in my name though not his so the OR cant cancel it I think).

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1180
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1180

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 15
Gas..................................... 20
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 12
Mobile phone............................ 40
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 200
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 200
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 905


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,180
Expenses (including HP & secured debts). 905
Available for debt repayments........... 275
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 275

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

PippaGirl_2

I'm not sure about the council tax, seems high for one persons's contribution but otherwise seems ok. Where is the car rental cost?

bruciebounus

Hi Pippagirl, he pays the whole council tax bill. He rents a cab for £215 per week, and I have taken this off his total earnings before tax.

tigerfeet2006

So are you going to claim he is living there as a lodger? Or as a couple?

HappyMJ

He can put about £20 a month aside for holidays. He can also put an amount aside for rent even though you are the one paying the mortgage. It's got to be a fair amount. He has to pay half the council tax and all the bills so you can offset it that way. The mobile is a bit high and as it's in your name as you say probably won't be accepted.

PippaGirl_2

His net income should be his gross income minus tax and national insurance, any work related expenses need to be itemised separately on the form. Also they won't allow him to pay the whole council tax bill for you as well.

bruciebounus

The thing is all the bills are in my name, he gives me around £115 per week and I put it towards the bills. I have always paid the mortgage and I am loathe to put that he pays half (when he doesn't) in case they try to prove BI in the house.

Can he explain this to the OR at his interview and fill in the SOA with their guidance, or does he need to fill it in beforehand?

bruciebounus

Hi Pippagirl, the work related expenses are tax deductible, so can only get the net income by deducting those expenses beforehand

PippaGirl wrote: »

His net income should be his gross income minus tax and national insurance, any work related expenses need to be itemised separately on the form. Also they won't allow him to pay the whole council tax bill for you as well.

Wywth

The mobile phone bill you say is your contract, so not sure why it's on your boyfriends SoA.

If it is your boyfriends contract, then if he's going bankrupt the mobile phone company would soon terminate it.

How did you manage to get a mobile phone contract for £480 per year when you don't appear to have any earnings?

Or if this is just his SoA, howcome you appear to be putting the council tax, the landline phone and the tv licence (and perhaps other things) all down to him?

freddy911

Wywth wrote: »

If it is your boyfriends contract, then if he's going bankrupt the mobile phone company would soon terminate it.

Why? I kept my contract during BR and even got and Iphone 4 on upgrade just 3 months after going BR.

freddy911

You have put £200 down for child related expenses, how many children does your partner have? what do these expenses pay for?