MSE News: Summer Budget 2015: Millions to face benefit cuts

Icequeen99

brutamuk wrote: »

Yes, Income was approx £35700 last year. The £33000 is our income for 2015-16 (we're expecting a drop in income).
Higher rate is for the care component.

Based on the budget announcements alone you would be looking at a loss of around £3000 a year unfortunately.

However, your income fall will pick up some of that difference. Your 15/16 tax credits will be based on 33,000+2,500 disregard = 35,500 where as your 16/17 tax credits will be based on 33,000 if that is your actual 15/16 income. That would mean you you would overall ee a fall of about £2000 compared to this year.

These are of course rough figures.

IQ

A_Flock_Of_Sheep

Icequeen99 wrote: »

Based on the budget announcements alone you would be looking at a loss of around £3000 a year unfortunately.

However, your income fall will pick up some of that difference. Your 15/16 tax credits will be based on 33,000+2,500 disregard = 35,500 where as your 16/17 tax credits will be based on 33,000 if that is your actual 15/16 income. That would mean you you would overall ee a fall of about £2000 compared to this year.

These are of course rough figures.

IQ

That is still a hefty drop in annual income if you have kids to feed and a mortgage to pay with ever soaring costs of electric and so on....

Icequeen99

A_Flock_Of_Sheep wrote: »

That is still a hefty drop in annual income if you have kids to feed and a mortgage to pay with ever soaring costs of electric and so on....

Yes it is, those on higher incomes will see larger drops, but they could have more children and high childcare costs so it will hit them hard.

IQ

brutamuk

Icequeen99 wrote: »

Based on the budget announcements alone you would be looking at a loss of around £3000 a year unfortunately.

However, your income fall will pick up some of that difference. Your 15/16 tax credits will be based on 33,000+2,500 disregard = 35,500 where as your 16/17 tax credits will be based on 33,000 if that is your actual 15/16 income. That would mean you you would overall ee a fall of about £2000 compared to this year.

These are of course rough figures.

IQ

Thankyou. That's about what I expected.

A_Flock_Of_Sheep

The other nasty sting is the drop in income for fresh ESA claimants making it equal to JSA for those placed in the WRAG. People may as well tribunal any WRAG decision now.

henlans

Londonsu wrote: »

Well I have read ignorant and uninformed posts on here and on other sites but yours takes the cake.


Pensioners DO pay tax if their pensions plus other income like wages or a private pension takes them over their personal allowance.


Which is why my 84 year old dad who worked for 70 years paid TAX for 70 years even though he got his pension nearly 20 years ago, his wages and his pension combined took him over his personal allowance.


Which is why my Husband who gets a state pension plus a private pension pays oh what's the word I am looking for????? oh yeah TAX

Tax the OAPS We are all in this together.

brutamuk

A_Flock_Of_Sheep wrote: »

That is still a hefty drop in annual income if you have kids to feed and a mortgage to pay with ever soaring costs of electric and so on....

It is a big drop, but to be honest, last year was a one off due to a bonus payment.
£33000 is inline with annual increases.

A_Flock_Of_Sheep

I reckon you will see a rise in reposessions and rent arrears and council tax arrears.

I would stop paying the council tax if push came to shove. Once the bailiff have taken my tatty old furniture and telly there would be nowt left for more arrears to be paid off. I's have to do time in jail. At taxpayers expense of course

As far as I know the council's cant make you sell you home to pay their arrears.

Water is another one. As far as I know they can't actually cut you off. I can see a lot of people defaulting on things. Utilities will be the first to suffer and credit card payments.

missbiggles1

henlans wrote: »

It looks like this..


2 kids for the unemployed and massive hit to the working people.


Massive hit on the low earners.. but we do have a £7.20 living wage that is rubbish.. it should have been £9 now. make these company's pay a proper wage, if you had this you would not need tax credits for working people.


Personally, Ill take the 2k loss, but tax the OAP's too.. we are not all in this together.

You do know that pensioners pay the same tax as everybody else, don't you?

A_Flock_Of_Sheep

Save on metered water costs by filling giant water containers at the tap located in your local cemetery.

I certainly will be thinking more carefully about buying things once my income goes down. I will be cancelling my charity donations for a start. I will wrote to each one saying

"due to ongoing government austerity measures and cuts to my income I can no longer sustain supporting your cause. If you have any concerns regarding this unfortunate situation please address them to: G Osborne, 11 Downing Street, London."