Is it worth me working?

mummyofboys

Hi,

I am a student nurse and mother of two kids. My husband works 40 hours a week.

I need to earn some extra money, currently I bring in

£482.00 bursary
£1100- husbands wage

we get -

£419 child tax credits ( every 4 weeks)
£134.50 child benefit ( every 4 weeks)
£21.00 housing benefit ( monthly)

I have got a job and start soon, it is 11hours per week and pays £6.08. I am going to be strecthing myself to do this as I have my boys to look after and full time study/ placement.
If I got to keep it all I would be £60ish pounds better off per week and could up my hours during holidays ect.

However I am thinking will my taxcredits and housing benefit be cut therefore making it pointless pushing myself to the limit with so many other commitments? Currently my tax credits award is based on just my husband working as they don't take my bursary into consideration.

Also then being taxed, NI on top?

Any help would be great

benefitbaby

Because tax credits are awarded based on you/husband's income in the last tax year yoour tax credits would not go down now.... however they might next year. You can do a calulation on the HMRC tax credit calculator page to establish impact.

It is likely to impact your housing benefit as I suspect that you are already receiving the £20p/w disregard for your husband's earnings (check your housing benefit award letter). In reality this means you could lose HB but you would gain overall as you will receive about £289 per month from your new job.

mummyofboys

I thought I would have to update tax credits now to avoid being overpaid though? I thought they do it based on this year if you give them the figures?

What is the £20 disregard per week for housing benefit

PippaGirl_2

Personally of all the Mums I know who have completed the Nursing degree they would not have managed a job as well. The degree is already full time, and being wife and Mum, I wouldn't risk the degree personally.

Own_My_Own

If you do a check of your income on Turn2us benefit checker, input your wage as £6.19 an hour. The minimum wage goes up on 1st Oct.

Dunroamin

You don't mention what the job is but, if it's in the care sector as as an HCA, don't forget that this will enhance your job applications when you finish your course. Many student nurses do a couple of shifts a week with the nursing bank for just this reason.

Pedent

mummyofboys wrote: »

However I am thinking will my taxcredits and housing benefit be cut therefore making it pointless pushing myself to the limit with so many other commitments? Currently my tax credits award is based on just my husband working as they don't take my bursary into consideration.

Also then being taxed, NI on top?

At that level of earnings, you won't have to pay either income tax or national insurance. (You can earn £8105/year before you have to pay income tax, and £146/week before you have to pay national insurance contributions.)

Your tax credits entitlement will be reduced by 41p for each £1 of additional income, but not immediately. If your income goes up by less than £10k in a year (£5k from next year), then the increase is disregarded and your entitlement is calculated using your previous year's income.

I'm not sure how your housing benefit will be affected.

mummyofboys

Yes it is working as a family support worker for a family with a disabled child it will look fab on my CV. I'm in year two and I thik I could manage it as I am dedicated to my studies, I just would like to see the financial reward also, would be nice to be able to worry just a little but less!

I think I am going to give it ago, Thanks everyone

mummyofboys

Just a quick update, my husband got offered a £3k a year payrise yesterday! we have talked and I have decided to start the job so combined the two I think we should see a difference, we will loose our housing benefit and some tax credits but not enough to be worse off.

I feel happier anyway as I feel my husband is now getting a wage that reflects his hard work, and I feel happier knowing we are headed in the right direction and hopefully one day we wont have to struggle!

The job fits in perfectly I started yesterday, I start at 7 am and I am home by 8.30 so I even manage to say goodbye to the kids before school/nursery then off to uni till 4pm and I have evenings and weekends with the family.

Thanks for all the advice