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Posted: Mon Mar 09, 2009 7:02 pm
by mick1972a
Hi if you have to pay into either an IPA or IPO I have read that child benefit is not counted as income that can be put towards this. Is it also the case for child tax credit and working tax credit or just child benefit.
I am working so these benefits will not be our only income.
Thanks
Mick
Posted: Mon Mar 09, 2009 7:04 pm
by kallis3
I'm totally sure what is counted towards an IPA.
Can I direct you to the sister site to this?
http://bankruptcyhelp.org.uk/
They should be able to give you an answer.
Posted: Tue Mar 10, 2009 7:44 am
by David Mond
I personally believe that all of these benefits are classed as income for the purposes of an IPO or IPA.
Posted: Mon Jun 29, 2009 9:16 pm
by mick1972a
Just thought I would update on the question I asked. We eventually went BR at end of April. Child Tax Credit is counted as income but Child benefit is disregarded.
Mick
Posted: Mon Jun 29, 2009 9:46 pm
by plasticdaft
I wonder why one is counted and the other is not??
Thanks for letting us all know thought Mick.
Paul
Posted: Tue Jun 30, 2009 9:18 am
by Michael Peoples
I think the reason is that child benefit is specifically paid to the mother to be spent on the child. Tax credits can be paid to the father or mother and supplement income.