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What can be included as "income"?

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(@sherlock)
Active Member
Joined: 14 years ago
Posts: 19
Topic starter  

When a trustee is assessing a person's income for the purposes of a Trust Deed payment calculation, would the following types of income be taken into account:
a) child benefit
b) income support
c) child tax credits
d) child support payments
e) housing benefit

Or is it simply a case of ALL income is included in the calculation?


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi sherlock.

All income sources would normally be looked at, as would all reasonable expenditure.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 16 years ago
Posts: 4253
 

To elaborate, all income is included in the assessment but a trustee cannot seek a contribution from means-tested benefits.

Therefore in practical terms this means someone's available disposable income is calculated with reference to all of their income minus all of their reasonable living costs, but on the proviso that the monthly contribution requested cannot be any more than the total of non means-tested income.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi SHerlock

As TDA & Kevin say, all income will be looked at. This is so that the Trustee can get a realistic view of your disposable income.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
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