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can you use divorce settlement to set

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kris1983
Posted by
New Member

12 Feb 18 #499570 by kris1983

Topic started by kris1983

Dear All,

Can I use my divorce settlement cash to set up a business ? say 300k Will this be taken into account for housing benefit and tax credits .
I have a disabled child and had to give up work .Hoping I can use the divorce settlement to set up a property company and buy and renovate one or two flats a year and pay my self a wage . Will the benefit agency take into account the divorce settlement as cash in account for housing and tax credit . This is the only way I can hope to work as I have to be on stand by due to child's disability during day time to look after him.

Under60
Platinum Member

12 Feb 18 #499571 by Under60

Reply from Under60

Savings amount don't matter for tax credits, but they do matter for housing benefit.

kris1983
Posted by
New Member

12 Feb 18 #499572 by kris1983

Reply from kris1983

Wont the settlement become my capital for the company I set up , I hope to get a business loan to as my capital wont be sufficient to purchase property in south London. Can anyone comment pls

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