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Benefits and Overtime
feeblebob
Posts: 5 Forumite
Hi! Benefits question please........ I work 16 hours per week contractually, if I do any adhoc overtime, do I need to declare this on a weekly basis so that my benefits (Housing, Council Tax, Child) can be recalculated? Or can I do this annually when credits are calculated using my P60 with actual earnings?:huh:
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Comments
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For tax credits you do it annually and next year's payments are usually based on this year's actual income (inc overtime etc). But if this year's is more than £10k higher than last year's you'll have an overpayment. There's a £10k disregard for income increases and £2500 for income falls, which means unless this year's income goes up by more than £10k or down by more than £2.5k, tax credits are based on previous year's income.
Not sure about HB/CTB.0
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