Immoral_angel's Debt Diary

immoral_angeluk

wannasavemoney wrote:

Hi IA, Just a little note to ask whether you have looked into the tax credits implications if you stop working? Does it still get paid? I'm no expert in this field, but my understanding is that if you claim working tax credit then that stops if you are not working at least 16 hours per week and using an approved child care option. (not sure if this is right tho). Is anyone else more knowledgeable about this than me?

I don't get working tax credit anyway as I'm under 25 and the £108 a week we've been told we'll get if I stop working is child tax credit and Steve's working tax credit.

Spendless

wannasavemoney wrote:

Hi IA, Just a little note to ask whether you have looked into the tax credits implications if you stop working? Does it still get paid? I'm no expert in this field, but my understanding is that if you claim working tax credit then that stops if you are not working at least 16 hours per week and using an approved child care option. (not sure if this is right tho). Is anyone else more knowledgeable about this than me?

Sort of, in order you you to claim for childcare costs via tax credits, you both have to work at least 16 hours (if a couple). IA can still claim WTC and CTC, but won't get any help with nursery costs if she doesn't work, for most this isn't a problem cos usually if you are not working, then you don't need childcare, which I'm guesssing will be IA's case.

IA- It doesn't make any difference about you being under 25 if you have children. If you were on your own with the kids as long as you worked at least 16 hours you would get WTC and CTC.

immoral_angeluk

Spendless wrote:

Sort of, in order you you to claim for childcare costs via tax credits, you both have to work at least 16 hours (if a couple). IA can still claim WTC and CTC, but won't get any help with nursery costs if she doesn't work, for most this isn't a problem cos usually if you are not working, then you don't need childcare, which I'm guesssing will be IA's case.

IA- It doesn't make any difference about you being under 25 if you have children. If you were on your own with the kids as long as you worked at least 16 hours you would get WTC and CTC.

That's strange as we only get wtc for Steve even when I was working...?

Spendless

immoral_angeluk wrote:

That's strange as we only get wtc for Steve even when I was working...?

In what way do you mean . Isn't it just a joint claim under both your names? Your working tax credit is for your household income, so when you were working it was based on both your salaries. If you stop work you will still get wtc to top wages up because steve works, but it would be the same if you worked (as long as you work at least 16 hours) and steve became a SAHD.

immoral_angeluk

Spendless wrote:

In what way do you mean . Isn't it just a joint claim under both your names? Your working tax credit is for your household income, so when you were working it was based on both your salaries. If you stop work you will still get wtc to top wages up because steve works, but it would be the same if you worked (as long as you work at least 16 hours) and steve became a SAHD.

Hmm... will have to get our award notice out as I'm sure it said something about Steve's working tax credit and the the child tax credit for the girls..

tigzem

Hi Sarah

I read through your whole diary last night and have to say well done for doing so well and congratulations on the arrival of your beautiful baby girl.

You have inpsired me to start my own diary, even though at the moment I don't have a lot to put in it, it will help me get started.

Will keep reading yours if ok, to help kick me up the bum!

Well done

Tigz x

immoral_angeluk

tigzem wrote:

Hi Sarah

I read through your whole diary last night and have to say well done for doing so well and congratulations on the arrival of your beautiful baby girl.

You have inpsired me to start my own diary, even though at the moment I don't have a lot to put in it, it will help me get started.

Will keep reading yours if ok, to help kick me up the bum!

Well done

Tigz x

Thanks tigz... we appreciate that! Good luck with your own diary and I'll be sure to have a read if I spot it! :T

immoral_angeluk

Just spent the whole afternoon listing cd's on ebay because of the 5p listing day. Ste did some last night as well and MY GOD was it a tedious task. Had already put a few things on ebay which finished yesterday and made us a good £40 but I managed to knock one of the items off the dresser when I was hoovering upstairs and break it so we're £13 down because of my clumsiness so have only really made £27... hope the other items we have on and the cds do well to make up for it! Anything we get will go towards the next debt so fingers crossed we'll have a nice lump sum for it!



Edit to add that not including the ones that finished last night we have 41 AUCTIONS running at the moment! :eek: !!

immoral_angeluk

Oooh I have been a bit slack the past few days haven't I! Don't know why.. I could've found 5 mins to do a quickie update so I'll just hold my hands up and say I'm rubbish. LOL.
Everything's fine here. Still waiting to hear back from the tax credits people but should hear something soon hopefully. Tomorrow is our normal tax credit day so looking forward to seeing if the payment's changed. (How sad am I! lol!).
Steve won £24.34 on that bingomania loophole and are just waiting for an email back from them about how we can give them photo id to get the money moved over. woohoo! I love free money and even if they don't pay out we won't have lost anything! Was fun playing anyway!
We now have 46 items on ebay all finishing this weekend. Can't wait! I love it when our ebay auctions are finishing as it's really exciting! We've got 2 'biggies' up for sale to.. Ste's spurs shirt which has been signed by loads of people and our bt home hub and phone plus tonnes and tonnes of cds so hopefully we'll make a decent amount to go towards debts!

Of the february challenge we also saved £16.89 this week! Woo! Not sure exactly what our debt savings is at at the moment because we've got cheques clearing, money transferring over as well as a couple of electron payments going out (for ebay packaging and sending some stuff which will be replaced by the proceeds from the ebay sales when they've all finished.) so the internet banking isn't showing the correct amount and it's all confusing lol. Will update it properly when everything's cleared and is accurate again BUT for now I'm just going to add the 16.89 to the running total.

Hope everyone's well and not working too hard! Have a great MSE/DFW valentines day tomorrow! We're planning on getting a movie and some beer.. which is the most we can hope for with a manic toddler and 2 week old!! lol!!

GirlRacer_2

IA where do you get your energy from. Whatever it is your taking, stick it on E-Bay - I'll buy it LOL