Newbie looking for some advice

DarrenG1974

Hi.

I'm currently about to start a battle with Newcastle City Council who have, or are, about to end my NHS TUPE contract and the company I work for will now pick up my wages as I'll have to move to one of their contracts.

Sounds good and in essence it is as I'll still have a job. Where it goes sour is that I'll be taking a wage cut of up to £5k per year. I lose overtime, weekend rate, nightshift rate and other enhancements that you get working with the NHS.

So, if I lose £5k per year that is my mortgage goosed - I lose the house. However, I've been doing a bit reading and apparently I can apply for working tax credits. Now, I'll only be doing this till I find another, better paying job.

But what is working tax credits? How does it work? My wage last working year was under £19k basic.

Can anyone offer a bit insight, please?

Thanks

D.

pmlindyloo

Working tax credits are based on your personal circumstances, so your age, whether you are married, how many hours you work etc etc.

Overview here:

https://www.gov.uk/working-tax-credit/overview

Come back if you need further information/more detailed help.

DarrenG1974

Thanks.

Looks like I'm not entitled using the Tax calculator. Oh well. Social or rented accommodation it is.

pmlindyloo

DarrenG1974 wrote: »

Thanks.

Looks like I'm not entitled using the Tax calculator. Oh well. Social or rented accommodation it is.

Is this because of age or hours or salary?

Don't know whether this will help - if you could provide more details that would be useful - but tax credits are worked on the previous tax year. However, if your earnings will be substantially less in the current year then you can do an application based on an estimation for the current year when you complete the forms.

Also, if you are not entitled to tax credits then your mortgage lender may be able to help e.g. payment holiday/interest only/extending the term.

Or/and could you take in a lodger to up your income or get an evening job to supplement your income while you find a better paid job?