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Tax Credits Advice?

8 replies

MummytoCSJH · 07/09/2017 17:13

Hi
I have finally secured my first job after about 3 years of looking (and being fobbed off due to health issues). I'm a 19yo single parent, just finished my A Levels. The income of this job is £15500 salary so around £1290 a month. I'm wondering when to notify tax credits of the change, I know you're meant to straight away but must be within 30 days. I don't get paid for a month and a half after I start my job but I have to pay my childminder in this time... I start work on the 25th of this month, my next payment would be the week after (as I'm paid 4 weekly) on the 3rd October and I don't get a wage payment until 23rd October. I would have gotten an income support payment on the 26th but not sure if I will, depends if they pay in arrears (in which case I would get one I think?). I am wondering if I could wait until I get the due payment on the 3rd to notify tax credits (it's only just over a week), but it would be four weeks worth so I would still be due 3 weeks amount. I will be notifying income support 7 days before I am due to start so that my claim ends. I will actually be getting more tax credits than I do now as my son will be going into childcare. Is it still based on the previous year (eg my income support) if it's my first job as I know exactly how much I will earn? It is a 9-5 Mon - Fri job, one hour for lunch so 35 hours a week every week apart from holiday which is paid, but there is no overtime etc so there will be no change to my income during the year at all. I really don't want to end up with an under or overpayment, as I am paying other debts off, which I think I will if they use my income support figure as my money is almost doubling. Thanks in advance if anyone can help.Smile

OP posts:
Rockchick1984 · 07/09/2017 20:33

On that income you will still be eligible for tax credits and 70% of childcare paid for. You will also get working tax credits so you will probably find that they don't drop too dramatically - have you worked out the calculations for what you will get?

MummytoCSJH · 07/09/2017 20:49

Hi, yes, I've worked it out - I'll get more tax credits than I get now, as I'll get the same amount of CTC as I get now plus WTC as well. Sorry if my OP wasn't very clear, I just need to know whether or not I can put off telling them that I've started work until I get my next payment the week after I start work (as I would be due 3 weeks worth anyway), and if I can use my actual certain income rather than last year's to avoid a wrong payment? My income support (ie last year's income) is under half what I will be earning.

OP posts:
MummytoCSJH · 07/09/2017 21:09

Actually I think I was worth about that -entitled to about £200 more when on the dole! What's the bloody point sometimes... That means they will pay me the £200 extra and I'll have to pay it back at the end of the year - great!Hmm.
Still wondering if I can put it off until the 3rd and receive one last payment which will ensure I can pay my childminder until I get my wage?

OP posts:
wannabestressfree · 07/09/2017 21:17

When you get a job they allow a 'run on' of benefits for a month. I would let them know yes. I don't see how you will be worse off.

Auspiciouspanda · 07/09/2017 21:25

Yes I would wait until until you inform tax credits

MummytoCSJH · 07/09/2017 21:59

I won't be worse off total income wise as I get a wage but tax credits wise, I will. The only benefit run-on I'm entitled to is for housing benefit.
Thankyou panda :)

OP posts:
SunSeptember · 08/09/2017 10:16

just be aware you may get over payment bill as well.

MummytoCSJH · 08/09/2017 10:45

Thank you, I'll just put the extra aside and pay it straight off as I can't afford to owe!

OP posts:
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