Benefits and overtime?

muddyl

Today work have offered what could be regular overtime equalling roughly £250 extra per month. I currently get means tested benefits of working tax credits and reduction in council tax.

If I earn more these will of course reduce but is there a way to work out how much I would "lose" as there's no point if most of it would be gobbled up?

Dunroamin

Could you clarify what you mean about there being no point?

NYM

Look on the offer of overtime as a positive and any WTC/HB you receive as a bonus.

Teahfc

The time will come when the government say no point in giving out benefits if there is overtime on offer then how much would you lose ?
Man up and show some pride in the fact what you have bought home in your pay packet you have earned. If you say no to overtime now maybe when you need it the bosses will over look you ?

zagfles

I don't know about council tax, but for WTC it's not a simple answer. Your income can increase by £5000 this tax year over last year and there's no reduction to your WTC this year, but there will be a reduction next year.

The likelyhood is that you'll lose 41% of the (gross) extra pay in reduced WTC next year (added to tax and NI this'll likely make 73%), but it'll depend on any other changes to your income this year and next, and even last year.

custardy

muddyl wrote: »

That's not what I meant at all.

I'm currently looking into retraining so I can increase my income. My working out shows that after deductions I'd be earning under £5/ hour for my overtime.

What I meant was time with my children or bettering myself is worth more than that.

'that',being working?
This is the type of logic thats screwed the system.
You work to earn money
A system that even allows this type of thinking is flawed

Dunroamin

midnight_express wrote: »

He means why work if you can ponce off the state.

Surely not?:rotfl:

muddyl

custardy wrote: »

'that',being working?
This is the type of logic thats screwed the system.
You work to earn money
A system that even allows this type of thinking is flawed

'that' being long term benefit.

Overtime now for extra money, but when the overtime stops so does the extra money versus investing that same time into furthering myself to hopefully increase income over a longer period. Long term V's short term.

custardy

muddyl wrote: »

'that' being long term benefit.

Overtime now for extra money, but when the overtime stops so does the extra money versus investing that same time into furthering myself to hopefully increase income over a longer period. Long term V's short term.

You choose long vs short on your own money
not the states

muddyl

Dunroamin wrote: »

Surely not?:rotfl:

Helpful. I can understand others having an opinion but making fun of someone who asks for help on a serious matter?

I'm not one to ponce off the state. I was once out of work for nearly a year when the rescession started and never claimed anything due to pride. A few years later and When you have children to feed pride needs to take a back seat.

Each to their own.

zagfles

muddyl wrote: »

Helpful. I can understand others having an opinion but making fun of someone who asks for help on a serious matter?

I'm not one to ponce off the state. I was once out of work for nearly a year when the rescession started and never claimed anything due to pride. A few years later and When you have children to feed pride needs to take a back seat.

Each to their own.

OP - please don't rise to the judgemental rubbish. I've reported so hopefully it'll get deleted soon. Some people need to read and understand the rules of this board.