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longtomsilver

Universal Tax Credits

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I've been offered a part-time job, night shifts x 3 p/week and the gross monthly pay is £850. Hypothetically speaking if my two children were to live with me (single dad) and I sacrificed £500 from that pay into a SIPP I'd be entitledto £1,200 tax credits and child benefits a MONTH. Pack my bags I'm leaving. MENTAL!

Edited by longtomsilver

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19 minutes ago, longtomsilver said:

I've been offered a part-time job, night shifts x 3 p/week and the gross monthly pay is £850. Hypothetically speaking if my two children were to live with me (single dad) and I sacrificed £500 from that pay into a SIPP I'd be entitledto £1,200 tax credits and child benefits a MONTH. Pack my bags I'm leaving. MENTAL!

Can’t you claim for them even if they don’t live with you ? I thought one of the problems with child tax credits was that an immigrant parent could claim for children (possibly hypothetical ones!) that still lived in their original country.

You might not be able to if your ex is claiming though.

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1 hour ago, Wheeler said:

Can’t you claim for them even if they don’t live with you ? I thought one of the problems with child tax credits was that an immigrant parent could claim for children (possibly hypothetical ones!) that still lived in their original country.

You might not be able to if your ex is claiming though.

I doubt very much my ex would be claiming them or be entitled to claim tax credits. It just sticks in ones craw when as a family unit we are net marginal tax rate payers >80% and we are some how vilified for the audacity to pay school fees (are VAT thread). I'll never look at a working single parent in the same way again when they cry being poor.

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Right I did a little research and wrote it down on a Post-It note on tax credits.

27 Million Households in the UK.#

4.2 Million Households on Tax-Credits

30 Billion Tax Credit Bill (approx last year)

Average Occupancy (Households) 2.4

58.5% of households out of 20.9 Million are fully working (age 16-64)

3 Million households where nobody works.

Fully retired households therefore ~ 3 Million

~12.2 Million Households supporting 4.2 Million Claimants

Therefore Tax Credits cost working households on average £2459 per year each.

https://www.taxpayersalliance.com/ can't remember exactly where but was Aug 2018 bulletin

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/workingandworklesshouseholds/apriltojune2018

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