VOLUNTARY redunandcy....any benefits to claim

debtfree1day

voluntary redundancy - any benefits?
Hello, I have been sent here from he redunandcy board.

I am taking VOLUTNARY REDUNDNACY at the end of august, and will receive just over 30k (30 being tax free)

I am looking for alternative employment, but worse case scenario will I qualify for any support?

situation

4 kids at home, but 1 is 20 in ft education on uni course. Other 3 all under 16 and in ft education

partner works 21 hrs a week earns about £675 a motnh take home

childcare....circa £100 a month

no other income, mortgage etc etc

worked for 15 yrs plus+ always paid NI / Tax etc, never claimed previously

anything? council tax reduction? tax credits (previously I earned too much) school dinners? JSA?

If not is it worth signing on for a stamp etc etc?

Thanks very much

pmlindyloo

You will be entitled to contribution based Job Seekers Allowance for 6 months. (This is not means tested).

After the 6 months you will not be entitled to income based JSA as you have too much savings.

Because of your savings/redundancy money you will not be entitled to Council Tax Benefit.


You will not be entitled to working tax credits because as a couple with children you need to do at least 24 hours of work between you.

Am not sure about child tax credits. You may like to give them a ring to find out as it is a little complicated. You will need to give them an estimate for your household income for this year. If you under estimate you would face an overpayment.

The positive news is that you have some redundancy money to tide you over.

Good luck with finding a new job soon.

annie1975_2

Dont know too much about the tax credits side, but when my husband claimed job seekers (only for 12 days though),he claimed for me as well because I dont work, and they actually deducted our £10 tax credits we get for our child from his JSA...So you will get the £71 a week for yourself,but not sure what tax credits they will deduct..Someone on these boards told me they should not have taken the £10 from the JSA,but I rang a few times and they said it is classed as an income therefore it was deducted.Sorry cant be much more help.

pmlindyloo

annie1975 wrote: »

Dont know too much about the tax credits side, but when my husband claimed job seekers (only for 12 days though),he claimed for me as well because I dont work, and they actually deducted our £10 tax credits we get for our child from his JSA...So you will get the £71 a week for yourself,but not sure what tax credits they will deduct..Someone on these boards told me they should not have taken the £10 from the JSA,but I rang a few times and they said it is classed as an income therefore it was deducted.Sorry cant be much more help.

The OP will not be able to make a joint claim as his wife is working.

He is not eligible for income based JSA because of his savings.

He will be entitled to contribution based JSA.

annie1975_2

Yes sorry only just noticed the wife was working. Yes it will be contribution based..
Does that now mean then that the wife cant claim tax credits because she is only working 21 hours, as you have to work 24.??

pmlindyloo

annie1975 wrote: »

Yes sorry only just noticed the wife was working. Yes it will be contribution based..
Does that now mean then that the wife cant claim tax credits because she is only working 21 hours, as you have to work 24.??

Yes, as a couple you have to work 24 hours between you, with at least one doing 16 hours.

debtfree1day

Hi, thanks for all your replies

You will not be entitled to working tax credits because as a couple with children you need to do at least 24 hours of work between you

If my wifes boss were to amend her to 24 hours would this help? I suspect she could do this. I will phone up re the child ta credits as suggested

assuem school rinners are income based?

Thanks

kingfisherblue

debtfree1day wrote: »

Hi, thanks for all your replies

You will not be entitled to working tax credits because as a couple with children you need to do at least 24 hours of work between you

If my wifes boss were to amend her to 24 hours would this help? I suspect she could do this. I will phone up re the child ta credits as suggested

assuem school rinners are income based?

Thanks

No, you both have be working, with one of you working at least 16 hours a week.

pmlindyloo

kingfisherblue wrote: »

No, you both have be working, with one of you working at least 16 hours a week.

Not true. If your wife ups her hours to 24 then you will be eligible for working tax credits.

Sorry can't post a link but google working tax credits.

sweetietot

Your wife can work at least 24 hours per week for you to qualify for WTC, it's only if you are both working that one partner must do at least 16 of the 24 hours

debtfree1day

Thanks, so there is nod ownside for the wife going 24 hrs a week

and of course she will get 3 hrs more pay per week which is good

all good, thanks