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eddytwang
Starting Member
9 Posts |
 Posted - 20 January 2011 : 17:40:39
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| Hello, I am a married father of 3 with 3rd on the way filing for BR,as well as doing PAYE,I'm self employed at weekends doing gigs as a singer/musician which brings over a 1/3 of our total income,I have musical equipment(tools)with a value of around £1500 and a van worth around £1000 as well as a car which I use for my regular work and my wife uses for work and kids school nursery etc worth aroung £600 will these items be exempt as they are all essential for my/our work and family needs. Thank you in advance for all answers. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 20 January 2011 : 18:07:00
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Hi eddytwang welcome to the forum
tools of your trade are normally exempt
normally one car to the value of £2K
who are the cars registered to ? |
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eddytwang
Starting Member
9 Posts |
Posted - 20 January 2011 : 18:11:47
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Both vehicles are both in my name though my wife uses car equally if not more than me.
Thanks for your interest |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 23 January 2011 : 00:31:29
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Hi eddytwang,
Register the car in your wifes name, if you have 2 in your name the OR may either claim it, or ask you or a third party to make a reasonable offer for it. The OR will not know that you've recently transferred ownership as they can do registered keeper enquiries, but it takes ages to get an answer, plus if it is registered in your wife's name, DVLA won't provide any info unless it has anything to do with you as current keeper, which it won't.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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eddytwang
Starting Member
9 Posts |
Posted - 23 January 2011 : 09:14:18
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Thanks for that,my only concern in doing that is that the use/expense for using the car is included in my IE and the OR may querie this and want to see
the log book and see the date of transfer and put 2 and 2 together and supspect asset hiding or am I reading too much into it? |
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Will items essential for work be exempted ?
