New Job - Lower Wage?

gabby71

Hiya

I am thinking about applying for an internal position, only problem is that I will earn less than I do now.
My current basic wage is 14,000 pa, but, because I am very good at what I do and get good bonuses, I will earn around 19,000 before tax in the tax year 2010-2011.
The new position will pay me 16,000 pa but no bonuses, it is a better position with better prospects long term.
So, my question is, would the Tax Credits people help me out if I took the new job?
I have estimated that I will get around 50 quid per week in tax crdits from April - going on my earnings 2010-2011, if I take the new job I don't think I would be getting enough income each month.

cheers

Gab

~Beanie~

It looks to me like you earn too much to get any tax credits, unless there is anything you haven't mentioned like kids or anything.

gabby71

Sorry

I didn't say but yes I have 1 child, single parent.

Gab

zagfles

If your income next year is lower than this year you can phone and give them an estimate and they'll increase your payment (initially they base it on previous year).

Tehya

Hi,

I think I know what you're asking and yes if you qualify for tax credits you'll still be entitled even if you've taken a lower paid role. There are lots of people out there who do that for whatever reason. Besides the new job is actually better paid than your current role (without the bonuses) plus it's a guaranteed sum each year.