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Income Support claim after redundancy

famanda33
Posts: 8 Forumite
Hi all, I've googled this, but can't seem to find the answers anywhere.
I've already been TUPE'd over to another company (department has been outsourced), and they have immediately put us all on Garden Leave and we are being made redundant on the 14th November. I have been there 12 years and only work part-time, and am a single mum of 3 children (the youngest being 2). My payments will be as follows (approx):
£3500 redundancy (tax free)
£3500 Loss of Office (tax free)
£900 ex gratia bonus payment (tax free)
£3500 for 12 weeks notice period (taxable)
£1200 4 weeks bonus pay (taxable)
I was also provided with a £2000 training budget which I am currently using to retrain as a beauty therapist so I can eventually go mobile and work around my children. But obviously that is going to take at least 6 months before I am fully trained and earning.
So, the only option for me is Income Support. I know I will still get tax credits too, although obviously the working families tax credit will stop.
Questions are:
Will I be entitled to Income Support straight away after the 14th November, or will it have to wait until 12 weeks later? So, basically, is the 12 week notice period I'm being paid for taken that I'm still classed as working for the next 12 weeks?
I know that £1 a week is taken off your Income Support for every £250 you have in savings above £6000, but will I have to prove to them where I have spent the money? I have a £2500 credit card which obviously will be the first thing to be cleared, and would like to spend another £3000 on a car that is more reliable for when I go self-employed.
Will I be entitled to a tax refund?
And finally, should I work out my annual salary now and let the tex credits know, or leave it until the end of the tax year?
Thanks for any assistance. My brain is pickled with the past couple of months!
I've already been TUPE'd over to another company (department has been outsourced), and they have immediately put us all on Garden Leave and we are being made redundant on the 14th November. I have been there 12 years and only work part-time, and am a single mum of 3 children (the youngest being 2). My payments will be as follows (approx):
£3500 redundancy (tax free)
£3500 Loss of Office (tax free)
£900 ex gratia bonus payment (tax free)
£3500 for 12 weeks notice period (taxable)
£1200 4 weeks bonus pay (taxable)
I was also provided with a £2000 training budget which I am currently using to retrain as a beauty therapist so I can eventually go mobile and work around my children. But obviously that is going to take at least 6 months before I am fully trained and earning.
So, the only option for me is Income Support. I know I will still get tax credits too, although obviously the working families tax credit will stop.
Questions are:
Will I be entitled to Income Support straight away after the 14th November, or will it have to wait until 12 weeks later? So, basically, is the 12 week notice period I'm being paid for taken that I'm still classed as working for the next 12 weeks?
I know that £1 a week is taken off your Income Support for every £250 you have in savings above £6000, but will I have to prove to them where I have spent the money? I have a £2500 credit card which obviously will be the first thing to be cleared, and would like to spend another £3000 on a car that is more reliable for when I go self-employed.
Will I be entitled to a tax refund?
And finally, should I work out my annual salary now and let the tex credits know, or leave it until the end of the tax year?
Thanks for any assistance. My brain is pickled with the past couple of months!

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