hourly rate/hrs done versus tax national insurance

lash80

Hi I'm a newbie.

I'm on the rate of £7p/h and do a minimum of 40hrs p/w work and I am always getting asked to do overtime. When I do so I come out with less than I'm expecting too. How many hours should I be willing to do before I start losing out on tax, national insurance and working tax credits? My newest working tax credit award it roughly £52p/w.

asajj

http://forums.moneysavingexpert.com/forumdisplay.php?f=141

Perhaps better place to ask but someone else might help here too. I don't personally know the answer, sorry.

System

You can use the listentotaxman website to help you calculate things, also you can use the entitled to benefits website to work out how specific money will change your tax credits:

Listentotaxman - http://listentotaxman.com/
Entitled to - http://www.entitledto.co.uk/

As a general rule of thumb almost ANY amount of money over what you've told the benefits people about will affect your benefits going forward and could cause you to be overpaid.

naturaljazz

lash80 wrote: »

Hi I'm a newbie.

I'm on the rate of £7p/h and do a minimum of 40hrs p/w work and I am always getting asked to do overtime. When I do so I come out with less than I'm expecting too. How many hours should I be willing to do before I start losing out on tax, national insurance and working tax credits? My newest working tax credit award it roughly £52p/w.

As others have said you can go on calculators to work out the tax/Ni payments. My concern from what you have said is the £52 weekly working tax credit. On £7 per hour 40 hours week you would not be entitled to working tax credits. Unless you have other things that come into the calculation? So you must have been on much less when you applied, you will be overpaid and will end up paying a hefty amount back every pay day. Better to notify them now I would say. If you use the calculator on here you will see you would get zero on your wage. I am on £6.60 and I get £21 weekly working tax for 30 hours. So have a check on that one.