Road rules1 min ago
working tax credit will working affect the amount?
2 Answers
I get about 42 pounds a month working tax credit based on my partners earnings. I can not yet go back to work as my daughter is still too young but have been offered work in a pub it will total about 90 pounds a week, will this affect my working tax credit?
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I think it will get added to partners earnings for the purposes of Tax Credit.
The tariff is to take 55% of net income back, so although you wouldn't pay tax or NI (but very close to the limit so check it with employer and negotiate) the Working Tax Credit would be reduced by 49.50 pw
So you would lose the �42 WTC but gain the �390 earnings.
If the money is CHILD tax credit you might keep it as there is a different threshhold of allowed earnings. You need to check your award notice and ask.
Hope you're enjoying the sprogette meanwhile
Ann
x
The tariff is to take 55% of net income back, so although you wouldn't pay tax or NI (but very close to the limit so check it with employer and negotiate) the Working Tax Credit would be reduced by 49.50 pw
So you would lose the �42 WTC but gain the �390 earnings.
If the money is CHILD tax credit you might keep it as there is a different threshhold of allowed earnings. You need to check your award notice and ask.
Hope you're enjoying the sprogette meanwhile
Ann
x
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