Sorry to ask.. Ltd and Hb

BigAunty

Yes, the OP does seem to lob in spectacularly imaginative ways to increase her benefit entitlement between posts that outline the holidays the family enjoy and the goods that have been bought through family grants.

I do wonder if she does this for WUM purposes as she must be in the 90th percentile for the level of benefits she legitimately receives. But Lets face it, she is in a tough situation as a carer and lone parent of children with disabilities so I think we should be very supportive and act as per the forum etiquette.

However, I do wonder whether it might be more productive if forum members could just give her actual legitimate ways to achieve her goal of increasing her benefit income as far above 1k per week as she possibly can and how she can legitimately get rid of a potential 50k capital windfull so her benefits aren't affected. I have suggested pension contributions and shared ownership properties.

I think the next logical question the OP may ask is if she could still claim HB if she buys the proposed buy to let property through an offshore entity.

I have to say that if she is thinking of buying it through the Cayman Islands or Panama, I don't believe she can sidestep its impact on her means tested benefits.

Would anyone else like to anticipate and answer questions that the OP may be considering which challenge the dusry corners of complex benefit entitlement rules?

FBaby

But isn't it the case that pays whatever rate it is set at, so if you happened to have a mortgage under that rate, the difference could be paid towards capital? Saying that, how they could have managed to have a fix rate significantly below the base rate for 13 years, I'd be curious to know!

FBaby

I do wonder whether it might be more productive if forum members could just give her actual legitimate ways to achieve her goal

Not sure who this is more productive for though. Considering her income, I'm sure she could actually go and pay for an expert accountant advice, just like those looking into tax avoidance do. Saying that, these people are not usually very popular on these forums, and I don't think much allocation is made for their personal circumstances.

leveller2911

The OP has a long, long history of trying to rook the taxpayer so I would ask people not to feed this long established troll..........

NYM

Don't know about her being a troll...but she does appear to be a chancer that will do whatever it takes to manipulate the benefits system to her own benefit.

dippy3103

If the o/p put as much imagination and effort into a career as she does into increasingly inventive benefit schemes, then she could probably have a lucrative career.

Though I did think the shared ownership suggestion wad extremely sensitive- a win/win.

BigAunty

dippy3103 wrote: »

Though I did think the shared ownership suggestion wad extremely sensitive- a win/win.

Unfortunately, like the pension, with Shared Ownership there is an element where accessing it is restricted. The OP needs to be clearer about her preferences for disposing of the capital.

For example, a pension will not permit the OP to access it for very many years. If she's still on means tested benefits when it matures, the investment gets swallowed up by a reduction in her entitlements. It will then feel like a waste of money as it's not going to operate like additional income but merely like a switch from taxpayers funding her with free monety but having to fund her living costs herself.

With Shared Ownership (assuming she can meet the criteria for this type of scheme anyway), she may be able to tuck the 50k away as the purchase part of the property and claim HB for the rent. However, she can never realise that 50k unless she sells the property and if she's going to ber a lifelong carer for her disabled children, she will never qualify for a mortgage and be able to staircase up to 100% ownership.

Her desire for a buy to let indicates she wants an investment that can be accessed quite easily - she neither has to wait years for a return from a pension nest egg, nor does she have to park the 50k in shared ownership until she dies, getting no real return on it as its just handed over to the Housing Association. She can just sell a buy to let and get the cash relatively easily.

SnooksNJ

mummytofour wrote: »

Please don't have a go at me..
I'm a full time carer and there is no way I can work at the moment due to the demands of the children.

I moved from my mortgaged house due to abuse from the neighbours, towards my children and the house is on the market. I now rent and have been getting HB while the house sells. I hope to have some money from the sale soon.
I really want to do something to provide for my and the kids future with the money, not just waste it.

If things go to plan I may get about 50k. There is a property which has come on the market (studio) for 45k it's rented out at £390 per month, round here nothing comes up in the price bracket, even a studio would normally be 60k plus.
If I set up a limited company to purchase this property, I would then be employed as a director would I be able to claim HB based on my earnings? Or would it be seen as depriving myself of capital? So I could not get HB?
I'm also wanting to set up a small business offering another service which I'm in training for, so combined I would meet the working hours for tax credits and both business would work round my children's needs but together I would still be on a relatively low income to start with.

So my main question is, starting a limited compony to purchase property (spv) would I be able to claim HB?? I don't want to be on benefits long term, I want to provide for my childrens the best way I can.

Thank you

Sounds amazing. I think DWP employee's are back from their lunch break just about now so I would get down there right now and register your business. How about starting a gofundme page so you don't waste another cent of benefit money on your kids?

dippy3103

Only in the benefit world would "disposing of capital" be seen as a good thing.. Just saying.

ERICS_MUM

A question for mummytofour:

Where is daddytofour ? (Or daddiestofour ?). A novel idea but perhaps he could contribute and reduce your reliance on the welfare state ?