Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    EL-ENG
    £600 work bonus - What do I do ?
    • #1
    • 24th Dec 12, 4:01 PM
    £600 work bonus - What do I do ? 24th Dec 12 at 4:01 PM
    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
Page 1
    • FBaby
    • By FBaby 24th Dec 12, 4:17 PM
    • 13,515 Posts
    • 34,883 Thanks
    FBaby
    • #2
    • 24th Dec 12, 4:17 PM
    • #2
    • 24th Dec 12, 4:17 PM
    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.
  • bestpud
    • #3
    • 26th Dec 12, 9:33 AM
    • #3
    • 26th Dec 12, 9:33 AM
    You need to think long term.
    • ffacoffipawb
    • By ffacoffipawb 26th Dec 12, 5:28 PM
    • 2,249 Posts
    • 1,415 Thanks
    ffacoffipawb
    • #4
    • 26th Dec 12, 5:28 PM
    • #4
    • 26th Dec 12, 5:28 PM
    You need to think long term.
    Originally posted by bestpud
    e.g. pay £480 net into a personal pension.

    Then the OP will still benefit from this money, after retirement.
    • paddedjohn
    • By paddedjohn 26th Dec 12, 8:32 PM
    • 6,782 Posts
    • 7,505 Thanks
    paddedjohn
    • #5
    • 26th Dec 12, 8:32 PM
    • #5
    • 26th Dec 12, 8:32 PM
    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.
    • SkyeKnight
    • By SkyeKnight 28th Dec 12, 9:28 PM
    • 466 Posts
    • 580 Thanks
    SkyeKnight
    • #6
    • 28th Dec 12, 9:28 PM
    • #6
    • 28th Dec 12, 9:28 PM
    ....
    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
    Originally posted by EL-ENG
    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.
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

487Posts Today

3,951Users online

Martin's Twitter