Benefit cuts timetable

Gavin234

Does the Ben cap £20k apply to those in work?

wiltsguy_2

in brief:
Benefits claimed by a household have been cut from £26,000 to £20,000, or £23,000 in London. Working-age benefits, including tax credits and local housing allowance, will be frozen for four years from 2016-17. Child Tax Credit will be limited to two children for children born from April 2017.

Social tenants earning over £30,000, or £40,000 in London, will have to pay full market rent

Mr Osborne has scrapped housing benefit for under 25

Gavin234

wiltsguy wrote: »

in brief:
Benefits claimed by a household have been cut from £26,000 to £20,000, or £23,000 in London. Working-age benefits, including tax credits and local housing allowance, will be frozen for four years from 2016-17. Child Tax Credit will be limited to two children for children born from April 2017.

Social tenants earning over £30,000, or £40,000 in London, will have to pay full market rent

Mr Osborne has scrapped housing benefit for under 25

but does the cap apply to those in work?

henlans

Gavin234 wrote: »

but does the cap apply to those in work?

no.. just for the scroungers.. (not my view) they should have hit the OAP's too.. but like normal hit the young and give to the rich.

I used the word scroungers as someone said that the scroungers are having payback now. pretty disgusting

wiltsguy wrote: »

in brief:
Benefits claimed by a household have been cut from £26,000 to £20,000, or £23,000 in London. Working-age benefits, including tax credits and local housing allowance, will be frozen for four years from 2016-17. Child Tax Credit will be limited to two children for children born from April 2017.

Social tenants earning over £30,000, or £40,000 in London, will have to pay full market rent

Mr Osborne has scrapped housing benefit for under 25

I thought it was 18 to 21? but then again.. just get your parents to kick you out and you automatically will get it. a nice loophole.

Stella_Artois

Can someone explain what this means " reduced the income threshold at which families can receive tax credits from £6,420 to £3,850 "
Thanks in advance

henlans

Stella_Artois wrote: »

Can someone explain what this means " the income threshold at which families can receive tax credits from £6,420 to £3,850 "
Thanks in advance

Basically its worked out after £6,420 then after that you lose £1 per £1 you earn (I thought it was 40% and not 100%)


so from 2016 it will be from £3,850


I wonder if this will be a hit on people that get carers allowance.


This tax credits cut will gain the government about 4.5b a year. so that's 4.5 billion taken off poor family's

Miroslav

henlans wrote: »

Basically its worked out after £6,420 then after that you lose £1 per £1 you earn (I thought it was 40% and not 100%)


so from 2016 it will be from £3,850


I wonder if this will be a hit on people that get carers allowance.


This tax credits cut will gain the government about 4.5b a year. so that's 4.5 billion taken off poor family's

Ouch!

So as I earn £7,950 p/a - from 2016 I won't get any tax credits? As I'm over the new £3,850 threshold?

I'm !!!!!!ed!

Sorry, I don't understand how they work it out - I need an idiots guide.

andrewmp

Not a bad budget overall IMO.

Had to chuckle when IDS was fist pumping over a £9 per hour minimum wage, I'm sure he was an opponent of a minimum wage 18 years ago.

andrewmp

Miroslav wrote: »

Ouch!

So as I earn £7,950 p/a - from 2016 I won't get any tax credits? As I'm over the new £3,850 threshold?

I'm !!!!!!ed!

Sorry, I don't understand how they work it out - I need an idiots guide.

Nah, that's not right. You lose a percentage of the full amount for every £1 you earn above £3850 (currently £6kish).

henlans

Miroslav wrote: »

Ouch!

So as I earn £7,950 p/a - from 2016 I won't get any tax credits? As I'm over the new £3,850 threshold?

I'm !!!!!!ed!

Sorry, I don't understand how they work it out - I need an idiots guide.

I don't know.


They just say tax credits. I don't think it means the child tax credits.