I'm not an expert by any means but can't you claim "new style JSA" (for 6 months)
Jobseeker's Allowance (JSA): Eligibility - GOV.UK
Not means tested (savings amount don't come into it) and applies in England, Scotland and Wales.
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Previously on "Protecting my mums home as one of the excluded"
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I was gonna say pay the tax then claim UC again but eek beat me to it.
Also, you have an Irish mother so get an Irish passport ASAP and start looking for work beyond plague island.
I would also suggest that get your mother to start paying you rent, although that will balls up any UC claim.
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This is a sad predicament. I hope the OP can find some way out.
Id suggest if the OP has taxes owing, he uses some of his 17k savings to pay the tax. You dont want to incurr penalty charges and interest on taxes owed. Hopefully, the amount of owed taxes is less than the full 17k savings so doesnt completely wipe him out.
Once he has settled his outstanding taxes, he needs to keep full detailed records of this for claiming UC. They will want to know why his savings have reduced below the threshold.
Swapping houses back and forth between family members is not a good idea since it looks like it is being done to avoid taxes or care home fees. I fear if the house is put back in the OP's mother's name and she does need to go into care, the house will be taken to pay for this. At least at present there is equity in it.
Due to the mortgage position, I doubt equity release would be viable on the house and in any event, would need to be properly researched before the right choice is made.
Whatever the decision, the OP needs to reduce their savings so they can claim benefit but this must be done in a way so as not to look contrived just to receive benefit. Paying taxes and credit cards bills is a legitimate way to do this.
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I would have thought you could sell the house to your mother. That should give you enough cash to continue for a while. You need to take advice from the Citizens Advice Bureau.
Debt and money - Citizens Advice
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Originally posted by luimneach2005 View PostHa yes Irish but lives in Scotland.
Would a lifetime lease protect the house while she's alive?
I was an exec - crap at tech these days but good at building tech teams, hadn't used a cv in 15 years, used to being asked to come work places - now suddenly 50 and a pandemic and Brexit all in one year ������
2. What sectors have you worked in? Any experience in healthcare / hospitals? If so PM me. If not, can't help I'm afraid!
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Originally posted by luimneach2005 View PostHa yes Irish but lives in Scotland.
Would a lifetime lease protect the house while she's alive?
I was an exec - crap at tech these days but good at building tech teams, hadn't used a cv in 15 years, used to being asked to come work places - now suddenly 50 and a pandemic and Brexit all in one year ?
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Originally posted by NotAllThere View PostIf you have 17K in savings and owe HMRC tax, why not pay the tax and then claim UC?
But pay the tax today (as much as you can) and then claim.Last edited by eek; 11 January 2021, 08:11.
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If you have 17K in savings and owe HMRC tax, why not pay the tax and then claim UC?
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Originally posted by Old Greg View PostCould you give her a lifetime lease on the house at a low fixed rent, or would the bankruptcy courts not look kindly on that?
Sorry for your troubles by the way.
Looking at your user name, does you Mum live in UK or Ireland? If the latter, try askaboutmoney.com where you may find good advice about protecting your mum for her lifetime.
What is your skill set by the way?
Would a lifetime lease protect the house while she's alive?
I was an exec - crap at tech these days but good at building tech teams, hadn't used a cv in 15 years, used to being asked to come work places - now suddenly 50 and a pandemic and Brexit all in one year ?
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Originally posted by luimneach2005 View PostI was daft and liquidated my limited company in March so I could get entrepreneurs tax relief. Since then I've had two contracts offered then withdrawn at the last minute due to financial constraints - so no company vehicle anymore to claim BBL or furlough.
I hope it works out for you.
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Could you give her a lifetime lease on the house at a low fixed rent, or would the bankruptcy courts not look kindly on that?
Sorry for your troubles by the way.
Looking at your user name, does you Mum live in UK or Ireland? If the latter, try askaboutmoney.com where you may find good advice about protecting your mum for her lifetime.
What is your skill set by the way?
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Originally posted by SueEllen View PostYou should also consider posting on the forums iof moneysavingexpert.com - Debt-Free Wannabe — MoneySavingExpert Forum
Plus contact this charity - StepChange Debt Charity - Free Expert Debt Advice.
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Originally posted by jamesbrown View PostWhat about furlough? What about a bounce back loan? There’s also been some briefing that the March budget might include something for company directors, but probably only if their company turnover was low, on average, in prior years. Anyway, I would start with a bounce back loan.
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You should also consider posting on the forums iof moneysavingexpert.com - Debt-Free Wannabe — MoneySavingExpert Forum
Plus contact this charity - StepChange Debt Charity - Free Expert Debt Advice.
If you are in your 50s and can access a pension in a few years plus your mum can pay the mortgage at the moment, then there is no reason for you to go bankrupt and limit your earning potential.
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