Better off working part time...
Discussion
So - doing a few sums at work.
Single dad, currently work full time earning approx £30k pa gross.
I spend approx £300 per month commuting to work.
I end up with a take-home pay of approx. £1,900.
Subtract the commute costs = £1,600 per month.
If I was to jack this job in and take a part time, minimum wage job working 16 hours per week I'd be entitled to:
Working tax credits: £7,500
Tax credit (disabled element): £2,900
Child tax credits: £3,000
Child benefit: £1,050
Job wages: £5,500
Total annual:£19,950
Monthly take-home "pay": £1662.50
Seriously WTF?!? Am I missing something here? I could work 2 days per week and be financially better off than I am now and not spend 2 hours a day commuting? How the hell does that work?
Edit: My ex currently claims the child benefit / tax credit as she needs it more than I do, despite me being sole carer for the child - if I was to work p/t I would start claiming it myself.
Single dad, currently work full time earning approx £30k pa gross.
I spend approx £300 per month commuting to work.
I end up with a take-home pay of approx. £1,900.
Subtract the commute costs = £1,600 per month.
If I was to jack this job in and take a part time, minimum wage job working 16 hours per week I'd be entitled to:
Working tax credits: £7,500
Tax credit (disabled element): £2,900
Child tax credits: £3,000
Child benefit: £1,050
Job wages: £5,500
Total annual:£19,950
Monthly take-home "pay": £1662.50
Seriously WTF?!? Am I missing something here? I could work 2 days per week and be financially better off than I am now and not spend 2 hours a day commuting? How the hell does that work?
Edit: My ex currently claims the child benefit / tax credit as she needs it more than I do, despite me being sole carer for the child - if I was to work p/t I would start claiming it myself.
Welfare2Work said:
Your working tax credits would only last a year
Why? From what I can see, it's just renewed annually based on last years earnings.Welfare2Work said:
also - your commute is that by rail? - 2 days a week travel would be at full price (no point getting a travel card) and i don't think you have taken this into consideration?
Current commute is by road and rail - p/t job would involve no commute.TonyHetherington said:
I assume you're registered disabled then?
Also - do you get all those things if you resign (as opposed to being made redundant or sacked) ?
Yes, and yes.Also - do you get all those things if you resign (as opposed to being made redundant or sacked) ?
Just realised me and the mrs might be missing something here, as she works pt and looks after our young child, but we don't claim anything. I'm sure this is a total dumb ass question, but can someone tell me who best to speak to, so we can see if we are entitled to claim anything?
Thanks
Thanks
In 2011, we hired a team of of people on a 6 month contract at £7.50 an hour.
One of the chaps we offered a position to asked if we could reduce his hourly rate as he would be better off as a result of the way is benefits were structured.
Let me repeat that.....he wanted to EARN LESS so his benefits would INCREASE!
Don't ask me why or how (he did tell me but I really couldn't be bothered)
One of the chaps we offered a position to asked if we could reduce his hourly rate as he would be better off as a result of the way is benefits were structured.
Let me repeat that.....he wanted to EARN LESS so his benefits would INCREASE!
Don't ask me why or how (he did tell me but I really couldn't be bothered)
One issue is child care is expensive bare in mind so unless you earn enough an hour to cover that and then enough on top of that to cover your commute, then on top of that enough to actually purchase the aditional essentials for work lunches work wear etc very quickly the sums head towards you working to pay for the child care you need because you are working.
shirt said:
The downside is that when your kids leave school you have been out of full time employment for over a decade and effectively unemployable for full time. Also your 'career' will stall as there will be no prospects for growth or promotion.
more to the point have you ever seen daytime tv!! SlimRick said:
Total annual:£19,950
Well that can't be right. The TV has been full of people telling me that £26,000 isn't enough to live on and they'll have to choose which leg to cut off and cook for the children first. Presumably you've already starved to death if you earn less than that.Odie said:
You'd be even better off if you do what someone I used to be friends with does, she works 16 hours a week on the books and gets cash in hand for about 15 hours (at a 3/4 rate) a week from were she works, then on evening and weekends does house calls cash in hand too. :S
Did you report them to the benefit fraud hotline?No point us all whinging about tax etc when someone you know may be blatantly screwing it ?
shirt said:
The downside is that when your kids leave school you have been out of full time employment for over a decade and effectively unemployable for full time. Also your 'career' will stall as there will be no prospects for growth or promotion.
What a high opinion you hold for those that take a career break to look after their kids, the clever ones use the time to better themselves and then come back into the market with much more saleable skills.Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff