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600 work bonus - What do I do ?
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# 1
EL-ENG
Old 24-12-2012, 4:01 PM
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Default 600 work bonus - What do I do ?

If I work lots of extra hours (I'm salaried so no extra pay) I could reach a target which would give me a one off 600 bonus

This is a one off, possibly never repeated offer.

But I get WTC (based on this years lower salary of 15400 pa - last year 16500, married, 2 children ) as well as 3 per week council tax benefit and 28 per week housing benefit

OK, so take home would be up 408 up after tax and NI

WTC this year (and next year) would be down 246 (41% of gross)

I would lose the full (approx 120) housing benefit for the month

I would lose the full (approx 13) council tax benefit

I would need to reapply for Housing benefit and council tax benefit in February as it would automatically be stopped (is this correct????)

So Net pay for approx 60 hours work needed would be 408-246-120-13 = 29

Am I missing something ????

Would CTB / HB be based on an average when reapplying or just on February's wage ? ( as an average including the January bonus would wipe out more than the 29 net )

So, any ideas how this could work for me as I am not keen to put in so much effort for 50p an hour, but I do not want to let my employer down

Thank you in advance for any ideas
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# 2
FBaby
Old 24-12-2012, 4:17 PM
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It sounds like either you don't work the extra hours and feel good that it doesn't matter because you can get the difference claiming benefits, or you work the hours and feel good that doing so means you are supporting your family with less reliance on benefits and hopefully might mean a promotion in the near future that will mean you will then be trully better off?

I don't think there are other alternatives.
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# 3
bestpud
Old 26-12-2012, 9:33 AM
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You need to think long term.
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# 4
ffacoffipawb
Old 26-12-2012, 5:28 PM
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Quote:
Originally Posted by bestpud View Post
You need to think long term.
e.g. pay 480 net into a personal pension.

Then the OP will still benefit from this money, after retirement.
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# 5
paddedjohn
Old 26-12-2012, 8:32 PM
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Your net pay for the 60hrs won't be 29 it will be 408, the difference is that you will have earned the higher amount without relying totally on benefits.
Be Alert..........Britain needs lerts.
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# 6
SkyeKnight
Old 28-12-2012, 9:28 PM
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Quote:
Originally Posted by EL-ENG View Post
....
WTC this year (and next year) would be down 246 (41% of gross)

...

So Net pay for approx 60 hours work needed would be 408-246-120-13 = 29
If WTC are down this year and next year then you need to take off two lots of 246, so the net pay should be -217! Marvellous! It won't be quite that bad if you get a pay rise or a bonus next year though.
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