Working out which way would be better off - Tax Credits?

V_Debt

My girlfriend is currently on maternity leave/pay and her paid time off ends at the start of Feb and Im not working at present.

Is there any way to work out how we would be better off as in how many hours she would be better off working? She used to do 32 hours a week and we are unsure if she should stick to that or if she should maybe drop her hours.

Does anyone know which way we would be better off or how to work it out?

Ive tried entitledto.com but dont think its very accurate.

Thanks in advance.

Danny

V_Debt

Anyone help me out here?

V_Debt

I didnt come on here for criticism of my life, just for help with my query.

I am not in the position to get work at present.

Anyway to work out which way we would be better off?

Thanks

V_Debt

Just to add, please refer to this thread by the site owner if you are unsure about how the forum works.

https://forums.moneysavingexpert.com/discussion/365935

Thanks

Danny

trufflebuggy

You could also try the hmrc website too, as well as turn 2 us.

I've found both to be about right in the past and would give you a rough idea of what to expect. Even if it's not an absolute figure hopefully it should give you both an idea of what your position will be should your partner reduce her hours.

Without more information I think this is about all most people can suggest you try.

hth

Indie_Kid

There are too many changes coming up to say whether you'll be better off. What do you have coming in now?

V_Debt

Thanks trufflebuggy.

Very helpful, thanks

V_Debt

sh1305 wrote: »

There are too many changes coming up to say whether you'll be better off. What do you have coming in now?

What are the changes, I know they're stopping CB for people earning over £44000 per annum, unfortunately we wont be having to worry about that though.

ATM my girlfriend is on SMP which is around £500 per month, we get CTC and WTC of £64 and £62.

When my girlfriend does her normal hours which are 32 hours per week, she comes out with around £700 after deductions.

I know a woman at her work does 28 hours in order for her to be the best off she can be under her circumstances, her partner is also out of work.

It seems to be a hard question to get an answer to really, Ill try going to the inland revenue tomorrow to see if they can help.

I just wondered if there is a best way to work it, ie my girlfriend does 16/28/32 hours a week.

Ill be having to look after our 7 month old when she returns to work so theres also that to consider as we dont want a childminder to be looking after our baby. Thats besides the point though really.

Just wondering the best way for us financially to help us to make up our minds as to what we're going to do.

Caz3121

If you rent privately and currently get LHA you will be able to get the LHA rate for a 2 bedroom property for your area from here https://lha-direct.voa.gov.uk/Secure/Default.aspx

Yes benefits will reduce if income increases but where one parent is at home to look after the child it would make sense for the other to work as many hours as they can as the decrease should be less than the increased wage

tax credits entitlement tables http://www.hmrc.gov.uk/taxcredits/people-advise-others/entitlement-tables/work-and-child/work-no-childcosts.htm
note it is the salary and not the hours that are important although there is an additional element for working over 30 hours I believe

Indie_Kid

V_Debt wrote: »

What are the changes, I know they're stopping CB for people earning over £44000 per annum, unfortunately we wont be having to worry about that though.

No CTC for those earning over £40k and no new baby premium for children under 1.

V_Debt

What about those who already get the premium for babies under 1, will they continue to get it?