Hubby facing redundancy

2boysmum

Just found out today that my husband is facing redundancy, they had a meeting today and were told that there would be job losses, the cuts will be done on a performance basis, most of the guys that work there have worked there for 15-20 years, hubby started 2 years ago along with one other guy and one started a year before them. He has a meeting on Thursday with the Managing Director, after everyone has been for their meeting they will find out next week who is being made redundant. Merry Christmas to us!! I know he will be entitled to JSA but would tax credits pay us more money as we would only have my part-time wage coming in. Hopefully he won't be unemployed for too long, but I'm just a bit worried about paying the bills.
He has applied for 3 jobs online tonight and has a few numbers to phone tomorrow, so fingers crossed. I know he may not be one of the ones who loses their job but it looks quite likely and we want to get the ball rolling as quickly as possible, especially at this time of year

cw18

Assuming he'll get Contributions Based JSA, I don't know how that will impact Tax Credits -- but I do know you have to jointly do a certain number of hours to qualify for at least the WTC element. If you do enough hours to still qualify, then the reduced income should see an increase in what you get (as long as it's less than you had last year as well)

from the IR site

What happens if you leave your paid work?

If you leave work or you start to work less than the minimum of hours a week, you will no longer be able to claim Working Tax Credit. If you leave your job and receive pay instead of notice, you won't be counted as being in work for tax credits purposes during that period. But if you get another job during that time, you may still qualify for tax credits based on your new job.
Make sure you tell us straight away if your work circumstances change, for example you change the number of hours you work, or you are temporarily out of work. This is so that we can make sure you don't get too much or too little in the way of tax credits.

2boysmum

I work 16 hours a week, is that enough? Was just wondering if they would adjust our money now or would that not kick in until next year when its a new claim?

cw18

As best I can tell, as long as you have children (which I assume you have from your username), then you working 16 hours is enough.

If you phone with a revised estimated income for this year, they will change the payments within a couple of weeks.

2boysmum

Yes I do have children,:D two lovely boys, and its them that i'm worried about more than anything. Hubby phoned a few jobs this morning he saw on the jobcentres website, and one of them has phoned him back today, so fingers crossed. I really admire his attitude as I think if it had been me, I would have sat and cried for weeks