Working tax credit

superwoman4

Hi, I am new here and looking for some help.
I am 58 years old and more than four years away from receiving the state pension. I am wanting to retire from my full time job which is very demanding and I'd prefer not to sign on or to go off sick. I do not have a private pension.
We are not eligible for WTC on our joint income but would be on just my husband's income alone and he works 35 hours a week. Our savings wouldn't cover us for the four years wait to pension age.
Would we have a twelve months wait before we are eligible to receive WTC as the first claim would be based on our joint income?

dmg24

Do you have chidren?

Why not find a different job instead?

superwoman4

No children. I've been looking for a different job with no success so far. Really can't carry on in present job for much longer.

no-oneknowsme

OP to answer your question , no , you will not have to wait 12 months before you become eligible for wtc.

When you apply you simply inform tco that you are no longer employed and you give them an estimate of what your partners earnings will be for the year ahead and your first award will be based on that estimate.

If later in the year your circumstances change eg if you find another job etc , make sure you contact tco immediately so they can recalculate your entitlement.

zagfles

no-oneknowsme wrote: »

OP to answer your question , no , you will not have to wait 12 months before you become eligible for wtc.

When you apply you simply inform tco that you are no longer employed and you give them an estimate of what your partners earnings will be for the year ahead and your first award will be based on that estimate.

If later in the year your circumstances change eg if you find another job etc , make sure you contact tco immediately so they can recalculate your entitlement.

But you will probably have to wait till April before getting any - as they use annual income so your claim this year would be based on your joint income over the whole year. (Initially they'll ask for your income last tax year, but can adjust it based on this year's estimate but as you've already been working most of this tax year I guess you won't be entitled).

no-oneknowsme

Not so . Tco will ask for an estimate of earnings to base an award on.

i have done this in the past and payments have started straight away.

Op , my opinion is that if you telephone tco and explain the situation you will be paid from now , as opposed to waiting until April.

superwoman4

no-oneknowsme wrote: »

Not so . Tco will ask for an estimate of earnings to base an award on.

i have done this in the past and payments have started straight away.

Op , my opinion is that if you telephone tco and explain the situation you will be paid from now , as opposed to waiting until April.

Thanks no-oneknowsme, the previous reply confused me all over again.
I've never claimed anything before and would much prefer to find a part time job. Am thinking my age is going against me... even though it shouldn't!

no-oneknowsme

No problem. Get on the phone to tco and discuss your situation with them.

The helpline staff are usually great and will be able to offer advice.

zagfles

no-oneknowsme wrote: »

Not so . Tco will ask for an estimate of earnings to base an award on.

i have done this in the past and payments have started straight away.

Op , my opinion is that if you telephone tco and explain the situation you will be paid from now , as opposed to waiting until April.

They will ask for an estimated ANNUAL income over this tax year. As the OP has already worked for most of this tax year, it is likely their joint income will be too high for WTC this tax year and so the OP will probably have to wait till April for any WTC.

No harm telling them now though.

superwoman4

So, as I am still working full time, would it be better to resign in April?

zagfles

superwoman4 wrote: »

So, as I am still working full time, would it be better to resign in April?

Probably. What's your joint annual income going to be this tax year if you resign now?