I just went on to the Inland Revenue website to look at whether I qualify for Working Tax Credit, as I am considering leaving my current job I was playing with the figures and it said I was entitled to £141.00. Is that a month? a week? a year?
2006-12-30 01:06:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Thinking of changing jobs to look after my baby girl and go part time with a view to having another baby, but maybe I will keep BobC happy and not have a family to protect the public purse - just keep working and funding everyone else.
2006-12-30 05:10:09 · update #1
although payments may be weekly, tax credits from hm revenues and customs are calculated on an annual basis - very different from benefits from DWP. So that figure is likely to be your annual WTC calculation, or if you are on an extremely low wage it could be your weekly payment figure. double check this to be sure.
also note that WTC is only available to the following people:
If you are responsible for a child or young person you can claim
Working Tax Credit if you are aged 16 or over and work at least
16 hours a week.
If you don t have children you can claim Working Tax Credit if
• you are aged 25 or over and work at least 30 hours a week
• you are aged 16 or over and work at least 16 hours a week and
you have a disability which puts you at a disadvantage in
getting a job
• you or your partner are aged 50 or over and work at least
16 hours a week and are returning to work after claiming
qualifying out-of-work benefits.
so bear this in mind if considering giving up your job.
if in any doubt visit your local CAB for free advice and a benefit check. http://www.adviceguide.org.uk/n6w/index
2006-12-30 03:22:38 · answer #1 · answered by just trying to make a difference 5 · 1⤊ 0⤋
Ignore BobC; he hasn't a clue about tax and doesn't understand that you'll still be working; just another bigot with a big mouth. The £141 figure is for a year but will be 'paid' by a reduction in your monthly/weekly tax.
It's worth contacting Inland Revenue to see if you're also entitled to Working Family Tax Credit too.
hope everything goes well
2006-12-30 05:30:55 · answer #2 · answered by leekier 4 · 0⤊ 0⤋
they take your income for over the year and then divide your entitlement into weekly payments. make sure you try and give exact info or you could get an over payment which you will then have to pay back...if you phone them make sure you have your p60 handy..if your starting a new job you'll need to know what hrs your going to work and how much you are going to be paid so you can work out your yearly income.
2006-12-30 01:30:49 · answer #3 · answered by angie 5 · 1⤊ 0⤋
Im looking but cant find any specific information about this, it keeps mentioning "relevant periods", but in the section on self-assessment, it mentions dividing it into weekly entitlement, so am thinking your figure is weekly. Cant know more without seeing the sums myself.
2006-12-30 01:20:11 · answer #4 · answered by brian d 2 · 1⤊ 1⤋
you may get tax credit once you're unmarried, you ought to artwork a minimum of 17 hours a week, if its extra suitable than 30 you get extra allowance, on how plenty you get certainly relies upon on how plenty you earn, ring them for a style and fill it in, you're eligible
2016-11-25 00:41:37 · answer #5 · answered by ? 4 · 0⤊ 0⤋
If you decide to leave your employment, without having another job to go to them why should you be entitled to anything, it is your choice to resign and therefore I don't feel you should have any claim on the public purse, in answer to question I hope it is a year, and this makes you reconsider your decision and wait until you have another job to go to before leaving present employment
2006-12-30 01:14:10 · answer #6 · answered by BobC 4 · 0⤊ 8⤋