Changing Tax Credit Payments from weekly to monthly - do i?

kirstle99

Hi all,

I've been reading about how the new universal credit (although a while away yet i like to be prepared) will probably be paid monthly. So I was thinking of changing my tax credit payment from weekly to monthly.

Has anyone had any issues doing this/ I've read horror stories of not being paid for weeks etc & our tight budget would not survive this.

Is there the best time to change the payments? Like just after i've had the weekly amount/ Or doesn't it matter?

Don't want to be getting in a mess with it all just wondered if anyone had thoughts or advice for me...thanks

zagfles

Tax credits are never paid monthly - it's 4-weekly, which is similar but the payment date drifts through the year so you can't tie monthly bills, credit cards etc to the date you get paid. If you get WTC as well as CTC the dates will be different, I think usually 2 weeks apart so you'll get paid 2-weekly anyway.

Personally I wouldn't bother and just try to live as if you were paid monthly ie work to a monthly budget for everything...

kirstle99

Thanks zagfles

Yeah that's what I currently do anyway, i'll stick to that. Got a bit paniked by the threads I read!