Huge Drop in Post Budget WTC for the Self Employed

wiltsguy_2

shegirl wrote: »

The other most obvious options are: 1. Deal with it and cut your cloth, 2. Increase you income yourself

best advice i have seen all day!

Housing_Benefit_Officer

Why should tax credits be used to subsidise poorly paid people in the first place?

shegirl

Housing_Benefit_Officer wrote: »

Why should tax credits be used to subsidise poorly paid people in the first place?

It should never be a long term thing, should it? Short term I think it's fine, it can keep people on their feet as they move their way up the financial ladder a bit. That's fine as far as I'm concerned. It's when people plan for tax credits or settle and stay on them, getting the max they can forever that is the real problem

kimi1977

What if a person is claiming a disability element of WTC = 16 hours week, will that also be cut next year?

Icequeen99

kimi1977 wrote: »

What if a person is claiming a disability element of WTC = 16 hours week, will that also be cut next year?

The element itself won't be cut, but the amount received might reduce because of the taper rate and threshold changes.

IQ

kimi1977

Ok and this will be next April?

pleasedelete

Why would a single self employed person age 25 work only 25 hours a week?Many self employed people with fledgling businesses work 70 or 80 hours a week. Triple your working hours- if you cant make enough money to survive working those hours then get an employed job. Why should your lifestyle choice to work part time be funded by others?