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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


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  • LostSoul
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27 Mar 08 #17825 by LostSoul
Topic started by LostSoul
Hi...I know this is probably already covered but I can't see anything (foggy head:unsure: ) I'm currently at this breaking up crossroads, I don't work, o/h is the income provider & I live off the family tax credits which I assume will stop once we're seperated, so with 3 kids can anyone advise me what help I'll get

I do very much intend to get a job once I'm over the shock but I need to pay to live in the meantime

Thanks

  • Angel557
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27 Mar 08 #17827 by Angel557
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Once you are on your own with the children you will get child benefit which you should be getting now anyway , you need to call inland revenue to make a claim for child tax credits as a lone applicant, your husband is required to pay 25% of net income as child support.Need to tell your local council your a lone adult to get 25% discount off council tax.

Go to your local job centre they can advise you on what else you may able to get help with .

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27 Mar 08 #17828 by LostSoul
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Thank you:)

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27 Mar 08 #17839 by alexanda
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You should be getting normal child benefit allowance or whatever they call that these days so keep that.
As mentioned you can also get Child Tax Credit which is worth about £4325 a year.

You are right that the Working Tax credit will stop if you dont work but you can go out and get a job on Min wages and as long as you get 16 hours per week in you will qualify for the Working Tax Credit.

If you have young children and want to try and stay in the 9am-3pm range to be around after school, look at jobs in schools.

A trip to Citizens Advice is well worth it they will tell you whats on offer and direct you to the nearest tax office to get the forms for the Child Tax Credit.

Under CSA Hubby must provide 25% (15% for 1st child and 5% for each child therafter) of his net income ( Net = after tax N/I and any pension scheme payments he may have).

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27 Mar 08 #17840 by Fiona
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28 Mar 08 #17857 by IKNOWNOW
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Just to clarify a point on CSA calculations. 3 or more children means a 25% share of net earnings. Not 15% for fiest child and 5% for each child thereafter. I wish that was the case as I have 5 children all with the same father, but alas he only has to pay 25%. Just felt that point needed clarifying.

Regards, Sarah

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28 Mar 08 #17864 by alexanda
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Good point IKN.

Lostsoul just a slight amend:
The total tax credits available if you are on your own with children is £7386.42 which comprises £4241.94 Child Tax Credit plus £3144.48 for Working Tax Credit (must be working 16hrs or more per week.

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