Moving back into work and maximising benefits / work income

Kimitatsu

With tax credits it is almost impossible to not get an over or underpayment without tweaking the figures throughout the year - they saystem is designed to do just that :rolleyes: Because it works on a current family situation but last years income, you can do it one of two ways, either you can put down minimum wage and thenput money away every month in a high interest account ready to pay the overpayment at the end of the year (bear in mind there will probably be HB and CTB that will also need to be paid back) this means that you do not have to worry about these being paid and that in the event that it does not work out with the contract then you are no worse off.

Bear in mind that if you are a single parent and work over 16 hours a week then you are eligible for WTC as well as CTC, if you work over 30 hours a week there is a extra payment too - but if your contract finishes then you must inform the tax credits people within a month, otherwise you are committing fraud.

Or you give them projected figures and then submit your end of year accounts and let them pay you any underpayment back. HB and CTB will not be included in these as you can only backdate these 3 months and the criteria is very narrow, so you may lose out on that altogether.

As a parent with care you are eligible to claim child maintenance from the other parent if applicable (apologies if it is not) regardless of if you know where they are, or have a forwarding address.

Hope this clairifies the benefit side of it - have you tried business link for any advice? They offer all small businesses free advice and in some cases a mentor for the first year free of charge, they also have the ability to point you in the direction of grant funding.

AnxiousMum

Sorry Property-Advert - hard to see your gender via a laptop screen

You say you've been on Income support though - so an assumption was made that you are a lone parent - therefore, if you are mum or dad, you can still apply for child support from the other parent can't you?

myothercarisaferrari

965 HB - I am speechless

Kimitatsu

myothercarisaferrari wrote: »

965 HB - I am speechless

But it is what he is entitled to

Before we go off on a tangent as to what benefits should be paid and caps etc, I just want to remind everyone that these boards are about ensuring that people know what they are entitled to and how to claim not the amounts involved.

myothercarisaferrari

sorry Kimitatsu, I wasn't judging at all!

jdturk

I know this is off topic slightly but you wonder why it makes it hard for people to get back to work when they get payouts such as the HB which is that much,its more than the monthly average wage!

Good on the OP for trying to get a job