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If I give up work will I lose my tax credits?
Morgan_Ree
Posts: 787 Forumite
Let me explain before jumping down my throat :cool:
I only work 1 day a week alongside full time uni
I receive an NHS bursary so for tax credits purposes my only income is from my p/t job
If i give up my job my income will effectively be £0 as they don't take into account any of my bursary so does that mean i won't get anything?
I only work 1 day a week alongside full time uni
I receive an NHS bursary so for tax credits purposes my only income is from my p/t job
If i give up my job my income will effectively be £0 as they don't take into account any of my bursary so does that mean i won't get anything?
Future Mrs Gerard Butler 
[STRIKE]
Team Wagner
[/STRIKE] I meant Team Matt......obviously :cool:
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Team Wagner
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I thought you had to work 16 hrs to get tax credits?
I would think they would stop yes, as you are no longer 'working' even though I'm sure uni is keeping you more than busy..
I have just been made redundant, so I won't get tax credits now either
If you give them a quick call tomorrow, they may be able to tell you x9/70lbs to lose
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You will get child tax credits though if you have dependent children.0
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Yeah i have 1 childFuture Mrs Gerard Butler
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You shouldnt be getting WTC if youre only working one day a week (unless its one hell of a long day at 16 hrs). And regardless of the work situation, CTC will continue as normal.0
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I never said I get WTC??
So my CTC isn't going to change even if my income is £0?Future Mrs Gerard Butler
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You will still get CTC if you are not working, as long as your income is less than 60k (approx).
edit:
Thanks to alwaysonthego for correcting me!
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Your CTC will remain the same, assuming you are getting the highest rate. You need to inform the TCO that you're giving up your job, hth.Morgan_Ree wrote: »I never said I get WTC??
So my CTC isn't going to change even if my income is £0?0 -
No that is incorrect, families can get CTC with an household income of just under £60K (there abouts)MrsBartolozzi wrote: »You will still get CTC if you are not working, as long as your income is less than 15k (or something around that figure).0 -
alwaysonthego wrote: »No that is incorrect, families can get CTC with an household income of just under £60K (there abouts)
Doh! yes of course:D. Must have got mixed up with wtc ...
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Thought soMrsBartolozzi wrote: »Doh! yes of course:D. Must have got mixed up with wtc ...
The limit for WTC is roughly £18K
edit- for couples or individuals with a dependent child.0
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