Hi, I'm wondering if anyone can help me with some advice. I've recently been left a share of a property abroad ( 50% in spain by an aunt), which in the current market has no chance of selling or renting ( not a great holiday spot).
It hasn't been transferred to me yet as probate isn't complete, but I am wondering what impact it will have on both my housing benefit and tax credits. I get both working tax credits and child tax credits.
I wont be getting an income from the property and it will go on the market to be sold, but who knows when that would be.
Will it be treated as capital? Its value is about £50 k, and once sold obviously I will come off any benefits.
Its worrying me lots, cos I can't afford to lose my benefits until the house is sold.
Does anyone know the effects it will have?
Any advice will be greatly appreciated.
Thanks.
It hasn't been transferred to me yet as probate isn't complete, but I am wondering what impact it will have on both my housing benefit and tax credits. I get both working tax credits and child tax credits.
I wont be getting an income from the property and it will go on the market to be sold, but who knows when that would be.
Will it be treated as capital? Its value is about £50 k, and once sold obviously I will come off any benefits.
Its worrying me lots, cos I can't afford to lose my benefits until the house is sold.
Does anyone know the effects it will have?
Any advice will be greatly appreciated.
Thanks.