Cabot and Mortimer Clarke THREAD CLOSED

ManyWays

no child benefit?

is that petrol cost at the current petrol prices?

who is the mortgage with? is there no cheaper fix available from that lender?

could your partner not get a better paid job if you have to continue with this unprofitable business?

exponential

https://forums.moneysavingexpert.com/discussion/comment/81932897#Comment_81932897

That's diesel for two vehicles. I went through the bank statement and averaged it over two months.

Ah yeah, child benefit, I'll add that on! Thanks for that. My wife gets that so it's not something I considered as it isn't anything to do with me personally.

I have already spoken to my mortgage advisor and he has said there is not chance of changing our mortgage arrangement as it's fixed for a further 3 years.

My wife can't work as her dad has dementia so looks after him pretty much full-time.
She looks after the home, her dad and the children.

And no, she can't claim carer's allowance it will affect her dad's PIP payments.

ManyWays

who is this mortgage lender?
Diesel has gone up a lot in price over the last two weeks, redo it using the current price.

ManyWays

Also if your wife isn't working for the business, what you pay her is not a tax-deductible expense.

exponential

https://forums.moneysavingexpert.com/discussion/comment/81932972#Comment_81932972

The mortgage lender is Pepper Money.

I could increase it I suppose but I did take an average of monthly cost so I suppose in reality, it is much higher.

exponential

So the income on the SoA is what it will be when it is set up properly by my accountant with both myself and my wife being on minimum wage.
I don't pay her at the moment but rather, transfer money to her account to pay the household bills that come out of her account.