Universal credit and savings/capital

mum_to_many

I would say you would be hit by this as well,

nannytone_2

go and live on your land and that wont be counted as capital either!if spmeone sells their house it would leave then homeless.
if you sold the land you would still have somewhere to live.

if your foster kids are both pre school ahe, i dont really see how the horses are for their benefit when you say your kids look after them and you dont go near ....

are you sure theyre not for the benefit of your own children?

mum_to_many

nannytone wrote: »

go and live on your land and that wont be counted as capital either!if spmeone sells their house it would leave then homeless.
if you sold the land you would still have somewhere to live.

if your foster kids are both pre school ahe, i dont really see how the horses are for their benefit when you say your kids look after them and you dont go near ....

are you sure theyre not for the benefit of your own children?

They are both, we have older children for respite, and also have other children who come and visit them

nannytone_2

you have to make a decision.
the horses are a 'hobby' like any other hobby.
if you can afford it, you can do it.

you really should consider delling the land and either renting it back or finding other land to rent.
that way you will keep your benefit and the horses

princessdon

Fostering in income disallowed for tax credits, as its technically an expense, but still usually has an income for foster parents, your OH has wages, you live rent free etc.

Are you seriously saying you can't afford to eat with the level of income you have?

Tax credits should have been subject to capital years ago, this was a long time coming and you can see why. It's to be 1 benefit, so HB, JSA etc would either have to have capital disregards or the 1 and only benefits (tax credits), wasn't ever going to be the other way.

princessdon

quintwins wrote: »

Hmm this has got me thinking,I plan to build my own home and at some point will have a plot of land and be savings to start building (have a big aversion to mortgages and a good saving mentality so hoping to do it all off our own bat) we are currently staying with a relative, it hasn't been decided what will happen when we find a plot we may stay here awhile or live in a mobile on said plot. My husband works and we get tax credits and will have the min hrs under UC so....

If we choose to live here for longer will we be subject to the capital rules?

Savings will be considered, also if you don't work (only your OH) then depending on children, disabilities, there may be implications for you as a partner.

FBaby

You say the horses are not costing you much, but they certainly are if it is the reason for you to keep that land. What would you do with it if it wasn't for the horses?

mum_to_many

Maybe tax credits should have been based on capital, but it wasn't, that is not my fault. I bought the land years ago, intention of selling to raise deposit on house maybe. I can not afford this now.
Who said I couldn't afford to eat, I am going 100% by the rules here, that is why I am questioning it. If I had bought a house, maybe people wouldn't be so critical, but I didn't, and still can't afford to

zoominatorone

income from fostering 2 children must be in the hundreds of pounds a week tho isn't it?

nannytone_2

if you had bought a house and was living in it, there wouldnt be an issue.

having the land is really no different to having 20k in the bank. its an asset that you can realise that wont leave you without a home.
if you had bought shares with the money, it would be the same.
just because you chose to buy land really makes no difference ... it is an asset not a home!