Utterly confused

bunnyfuller

Hi all,

It's looking more and more likely I'll be made redundant from my police staff job after xmas.

I am trying to work out what my best option will be if this does happen.

My husband is a PC on about £30K, and I've been earning around £20k. I am also in receipt of an armed forces pension of £3870. We have 2 children ages 5 and 6.

I've just tried going on the Tax Credits calculator and the Entitled to, and everything seems to calculate on what you previously earnt, not what you WON'T be earning!

Am I missing a trick, do I need to put income in a different way? I wasn't expecting millions but big fat freddy zero was a little worrying!

Any advice please how I can work this out! Also, any advice how my pension might affect things. I left RAF 5 yrs ago.


Thanks hopefully!

Bunny

bexxie90

Put it in as if thats the aount you have been getting ie: what you're getting after christmas,should give a rough idea then
HTH bex

bunnyfuller

Thanks

WTC comes out at a princely sum of 216 a year if I don't work!! At least that's what I think? Is it a monthly or annual figure from the calculator....??

No idea of anything else yet, am guessing the pension is going to impact most things...

dseventy

Your pension is about £80 a week which means you won't be entitled to most means tested benefits (though cont based JSA should be fine, though thats for 6 months).

Add in your husbands income and its unliklely you will be entitled to anything other than Child Benefit.

D70

Caz3121

Contributions JSA will be affected. It will be reduced £ for £ for everything over £50 however you should still get around £35 per week assuming you have sufficient NI contributions.
For tax credits if you are going to be giving them a change for this year you will need to include your husbands income for the full year plus your income from April until end of year (so 8 months) this will still either leave you with zero or the minimum £545 per year for tax credits (not sure if they include your pension in the calculations)

karenx

You wont get any WTC on an income of 30k, cut off for a couple is 18k. That will be CTC