please help confused

baza52

alwaysonthego wrote: »

It makes me wonder why I actually bother to post on here.

dont bother then.....

alwaysonthego_2

baza52 wrote: »

dont bother then.....

Willa ????

healy

alwaysonthego wrote: »

Willa ????

Willa fan club member!

SuziQ

The rules on IS don't change and affect you until October 2010 so mak sure you get into a job which will really work for you.It can be a nightmare if you are either struggling to work or have to go back on benefit soon after taking a job,see your lone parent advisor who can do all the claculations and comparisons for you.


from 25 October 2010, if your youngest child is aged seven or over, or will be seven in the next year, your Income Support may stop during that year if you are only claiming it because you are a lone parent.

McKneff

alwaysonthego wrote: »

Ooh yes I see now , I have been in a foul mood today, Mr Always says it's PMT time now!!!

I will edit my post!!!

that not like the AOTG we know and love;)

alwaysonthego_2

McKneff wrote: »

that not like the AOTG we know and love;)

I feel the love

Pepzofio

alwaysonthego wrote: »

You will be better off taking the job as the government are lowering the age of the children from 12 to 7 when the parent will be expected to return to work so they will be transferred to JSA.

If you take the job, plus do something self-employed to bring your hours up to 16 then you will be better off. You will recieve WTC, CTC, CB, LHA, CTB and you will get to keep all your maintenace.

Alwaysonthego is completely correct, but bear in mind getting WTC will affect the amount of HB/CTB you are entitled to. To give you a better idea of what effect taking the job will have on your finances, I've done some rough calculations below. They're based on HB calculations as I'm not sure exactly how they calculate LHA, but I assume the basic income & applicable amount calculations are the same.

I haven't included any maintenance payments, given previous posts! But if/when you do get any, as alwaysonthego pointed out, it will not affect any of the benefits mentioned.

If you take the job on 15hrs then I think your income will go up to about £223.14/wk and you will probably have to pay a very small amount towards rent & CT

Based on:

£93.52 wages
£96.32 max CTC
£33.30 CB
£223.04 total

£198.04 earnings less £25 lone parent disregard
£193.82 HB applicable amount for single parent with 2 children
£4.22 excess income
65% of excess income = £2.74/wk shortfall in HB
20% of excess income = £0.84/wk shortfall in CTB

If you take the job and work 16hrs, based on same salary (for convenience) your income will go up to about £295/wk but you will be expected to contribute more to your rent & CT.

Based on:

£93.52 wages
£96.32 max CTC
£71.96 max WTC
£33.30 CB
£295.00 total

£270.00 earnings less £25 lone parent disregard
£193.82 HB applicable amount for single parent with 2 children
£76.18 excess income
65% of excess income = £49.52/wk shortfall in HB
20% of excess income = £15.24/wk shortfall in CTB

If you 'top up' your work, for each additional £10/wk of net income you receive, you will be expected to pay £6.50 towards your rent and £2.00 towards your CT (so you will only be £1.50/wk better off!)

If you earn more than £6,420pa then your WTC will start to decrease by £3.90 for every additional £10 gross income.

Net/gross income will be the same until you earn £110/wk as this is when you start to make NI contributions (or £5,720pa, although NI contributions are worked out on a wkly/mthly basis rather than annual). Income tax will kick in at £6,475pa.

**These are all rough figures only to show how I have worked it out, I cannot guarantee I have not made a mistake!!!**

willa

alwaysonthego wrote: »

Willa ????

:rolleyes:
http://forums.moneysavingexpert.com/showthread.html?t=154584&highlight - Post 1.

willa

healy wrote: »

Willa fan club member!

I've got a fan club? YAY!