We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Does receipt of a lump sum impact working tax and child tax credits?
amberspyglass
Posts: 11 Forumite
Hi there,
I live in Glasgow and work for the council. As part of our equal pay settlement all council workers will be receiving a one off lump sum payment in the spring. No-one is sure how much exactly this will be but it could be as much as £10,000. Obviously I need to inform HMRC but does anyone know how this would impact my child and working tax credits? Is it counted as income, would my benefits stop? Does anyone have experience of anything like this?
Thanks in advance ☺
I live in Glasgow and work for the council. As part of our equal pay settlement all council workers will be receiving a one off lump sum payment in the spring. No-one is sure how much exactly this will be but it could be as much as £10,000. Obviously I need to inform HMRC but does anyone know how this would impact my child and working tax credits? Is it counted as income, would my benefits stop? Does anyone have experience of anything like this?
Thanks in advance ☺
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards