Overtime and WTC payments

I currently work 20 hours a week . I earn 8088.00 each year and claim CTC and WFTC for my 2 children . I want to increase my hours to maybe 28 or 30 hours a
week or maybe just do some overtime when it is offered . Will I be better off or will I just be earning it one hand and losing it in another . Should I contact the helpline as and whenIi do any extra hours ? Is there a salary band tha I may go into with any added income ?

Comments

  • allen35
    allen35 Posts: 1,516 Forumite
    Hi Jill

    Your entitlement is based on well in april this last year income. I took a job £19000 last Nov'07 after coming off jobseekers, OH continued to get full CTC and we were awarded full WTC of £79(have 3 children) so dont see a problem you may well receive the 30 hour element but someone will let you know full details soon.
    Forums can be/are a good guide to entitlement and it is good practice to back it up with clarification from the relevant department/specialist with written confirmation to safeguard yourself.
  • gill01
    gill01 Posts: 33 Forumite
    Thanks for the reply . I am a single parent so dont have anyone any other income to take into account . I always turn overtime down a I am worried about next years entitlement . My eldest son is due to leave college so my claim is going to be reduced anyway .
  • allen35
    allen35 Posts: 1,516 Forumite
    Hi Jill

    Try clicking this website http://www.taxcredits.inlandrevenue.gov.uk/HomeNew.aspx

    Maybe try and put in some scenarios but i am sure from 5/4/08 you will be able to work extra hours and it wont affect your entitlement for this next tax year because your earnings are based on this current years.

    As long as you dont earn £25000 more than in the previous year you should be fine but do let tax credits of change in circumstances.

    Next year you will be re-assessed on this new tax year coming up so then you may lose a little but on the website put in £12000 as last years earnings and see what it comes up with although it may only show entitlement for next couple of weeks so try this one as well:

    http://www.entitledto.co.uk/
    Good luck
    Forums can be/are a good guide to entitlement and it is good practice to back it up with clarification from the relevant department/specialist with written confirmation to safeguard yourself.
  • Lip_Stick
    Lip_Stick Posts: 2,415
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    I'm a single parent going back to work in May after being on maternity leave. I worked out various senarios for my hours and what income I'd get. I worked it out at 16hrs, 20hrs and 24hrs. I got £10 more for working 20hrs than I did for working 16. If I worked 24hrs I'd actually got the same amount as 20hrs, as I'd no longer be entitled to housing benefit. The more you earn the less wtc you will get.

    Obviously your hourly rate might be entirely different to mine so ring up tax credits after working out what you think you might earn if you increased your hours on a regular basis, and they should give you an indication of what wtc you would get.
    There's a storm coming, Mr Johnson. You and your friends better batten down the hatches, because when it hits, you're all gonna wonder how you ever thought you could live so large and leave so little for the rest of us.
  • Shelley84
    Shelley84 Posts: 236 Forumite
    Has anyone actually been able to find out over the phone how much they are entitled to?

    Everytime I call to make a change they say they can't tell me how much I'll get. This doesn't help much when working out if you can afford it or not!

    I've recently got a promotion with a pay rise and have no idea how it will affect me. I expect due to extra income I will get less CTC and WTC and therefore have to pay more towards nursery and be worse off!

    Ridiculous if you ask me!
  • allen35
    allen35 Posts: 1,516 Forumite
    Hi Shelly

    As we are now towards the end of the tax year i can't see it affecting your new entitlement.

    It is frustrating when after all the training a HMRC adviser gets they still can't let us know whether we'll be worse off when trying our best.

    In your case it seems it will be next year when tax credits will be reduced so go for promotion and enjoy(for this year) extra income.

    Good luck with your new position...
    Forums can be/are a good guide to entitlement and it is good practice to back it up with clarification from the relevant department/specialist with written confirmation to safeguard yourself.
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