housing benefit question

[chels55]

i currently recieve housing benefit (not a lot but it helps) they want to look at accounts book in april so they can average up my income per month. I was wondering if they take the 10% wear and tear into account? or if its just the basic out goings

[Mollymop]

I don't know for sure, but I would have thought they would only take your profits into account.??
SOrry I am not sure, hope someone else is more helpful x

[sarah707]

They will see your income, then your expenses (which include the 10% wear and tear)... it's not a separate figure, it's just part of the whole amount you are legally allowed to take off your income.

I believe some means tested benefits just ask for your income figure then have their own percentages for working things out. If you are concerned, you need to ask them what figures they are going to need you to provide and how they work them out.

Hth :D

[chels55]

sarah, sorry for being thick but i thought the wear and tear is taken right at the end of the tax year, is it suppost to be in the weekly accounts?

[sarah707]

sarah, sorry for being thick but i thought the wear and tear is taken right at the end of the tax year, is it suppost to be in the weekly accounts?

The way you do your accounts is...

1. You have an income figure...

2. You take your expenses off your income figure...

3. You add any other figures to your income such as interest on banking (hahaha that's not happening just now is it??) and any taxable stuff like if you own another house and get rent or have a benefit which is taxed...

4. You end up with a figure you tell the tax man you have earned.

To get your expenses figure, you make a list of everything you have spent. this includes percentages of your household bills, ice creams, outings costs, petrol, insurance blah blah and 10% of your total income for wear and tear.

It doesn't make any difference whether you take the 10% wear and tear off every week, every week or at the end of the tax year, so long as you remember it is 10% off the whole income amount, not off the amount you are working out less expenses...

Does that make sense?? :D

[chels55]

perfect sense, i can always rely on you thanks so much

[Nettynoo]

That helped me a lot Sarah too!!!! Thanx!! xx