Working tax credit living with parents

Moneysaver57

Hello! I’ve recently turned 25 and wanting to apply for working tax credit, I’m earning just over 13000, I’m living at home with my mum, but trying to save for a deposit.

Just wondering am I Eligible le, I have a partner but don’t live together...


I. Live at home with my mum


I’m working 35 hours a week

Thanks if someone could help that would be great! :money::money::money:

marliepanda

The limit for a single person is £13100, so youre either over that or unlikely to qualify for anything meaningful unless you have children or disabilities you havent mentioned.

Moneysaver57

How do you know that!!!8217;s the limit? There!!!8217;s no limit anywhere saying that you can claim the only eligibility is that
Your over 25, working 30+ plus

Caz3121

your income affects the payments...of course anyone that meets the criteria can claim but if there is over a certain amount (which is based on personal circumstances) the award would be for zero
have a look at the calculator here https://www.tax.service.gov.uk/tax-credits-calculator/#/partner
putting in some details and a salary of £13k shows an award of £5.59 every 4 weeks...so £72 for the year...salary lower than that would show more and salary more shows less

quietishone

look at the tables on this page and you will see where the £13,100 limit (single person, no children) comes in -
https://www.moneyadviceservice.org.uk/en/articles/working-tax-credit

PasturesNew

Working Tax Credits are a "top up" for those deemed to be "not earning enough" - the intention was to encourage those who need full time earnings to take part-time work and get "topped up" while they continued to hope/apply for better paid jobs.

Moneysaver57 wrote: »

How do you know that's the limit? There's no limit anywhere saying that you can claim the only eligibility is that
Your over 25, working 30+ plus

The actual criteria is therefore: Over 25, working 30+ hours/week and "not earning enough as defined by an amount set by the Govt".

As a rule, single people won't get anything "worth getting". Working 30 hours/week on NMW for somebody 25 and over would get you £30/4 weeks. So that is the maximum a regular single person could ever hope to get really... once you earn more than NMW you're closer to "getting enough pay" so the WTC you can claim is lower.

Moneysaver57

This isn!!!8217;t outlined on the gov website. I!!!8217;m struggling to save and live, and can!!!8217;t get any help from the government just for a short time!

PasturesNew

Moneysaver57 wrote: »

This isn!!!8217;t outlined on the gov website. I!!!8217;m struggling to save and live, and can!!!8217;t get any help from the government just for a short time!

The easiest option is "get another job", when I was your age I had three.
Mon-Fri, 9-5, full-time in an office
Mon-Thu evenings, telephone canvassing for double glazing sales
Sat-Sun, 7.30-5, on the till for petrol sales.

Any job of just 2 hours/week will have you better off than claiming WTC.

LilElvis

Moneysaver57 wrote: »

This isn!!!8217;t outlined on the gov website. I!!!8217;m struggling to save and live, and can!!!8217;t get any help from the government just for a short time!

If you're saving for a deposit to purchase a house then the government assistance would be via the Help To Buy ISA where they will give you up to £3000.

Moneysaver57

I wish I was that easy, to get 3000 incentive for help to buy.

Caz3121

Moneysaver57 wrote: »

I'm struggling to save and live, and can't get any help from the government just for a short time!

you may have to put saving on hold until you can increase your income. Benefits tend to be calculated on what people need to live, not live and have spare to put into savings.