PDA

View Full Version : Working tax credit


BigEndBob
10th Sep 2008, 21:11
Any instructor earning less than about £16,000 might be entitled to Working Tax Credit.
IR Tax Credits - Do I qualify?, What are tax credits (http://www.taxcredits.inlandrevenue.gov.uk/Qualify/WhatAreTaxCredits.aspx)

If you earn £10,000pa could be worth £600.

MartinCh
11th Sep 2008, 00:38
but then, folks have to jump through hoops such as working more than 30 hours per week normally and having some kind of contract stating at least 30 paid hours (after breaks).

I could not get WTC until I turned 25 almost year ago although I'm low income single person household (flatsharing, naturally).
Month after my birthday I went to HMRC as I average 30+ hours. I gave them my payslips. Since I may ask for day off when I work or finished early, lady pointed out that one of few payslips has less than 30 hours.
Then asked for contract. Since I'm part time staff contract, it's 15/16 hours plus. But then, I work anything between 20 and 60 hours, depending on my free time, school etc.

I'm starting one job where I'd work 30+ hours and few, if any in my current.
I will see if I sort it out this time with contract in hand and at least 4 standard 8hr shifts, not sure if I'd have break discounted as I'd have to be there..

WTC is more or less b:mad: to show as something govt does as beneficial. It's supposed to help low income individuals or couples, but then they want you to work at least 30 hours. All the requirements, max earnings, min hours, age, contract, blah blah is there to discourage people from actually pursuing them. Not to mention if one earns more that tax year, ie more than expected, they'd ask for refund of WTC, paying back if they gave you too much. Principle is that as long as qualifying, the less one earns the more WTC received. So it doesn't encourage working extra few hours a week if they get taxed more and less WTC received.

Cutting story short-ish, it's suitable only for 30+ hours instructors as individuals with contract stating at least 30 hours or 16+ if couple with child etc, dunno the details for couples by heart. So part time freelancers would not qualify. Only FT (or 30+hr) contract employees more or less