The Federal Tax Credits Blog

Posts Tagged ‘uk’

Question: UK child tax & working tax credits question?

I am currently a SAHM and looking for work and have a qestion about childcare costs, My Husband works full time self employed but not doing to well and I am just wondering if I went back to work do we get help with childcare costs and what is the percentage. I will Phone Tax Credits people tomorrow, just wondering if anyone had any personal experience on this issue?
Thanks in Advance

Answer: If you search online for
‘Working tax credits’ you can do a ‘mock’ application online and it will give you an approximate answer

I applied recently, I work F/T but my husband is self employed

I was successful in getting working tax credit and child tax credit,so it is definitely worth going for

Help with childcare costs for working parents

Question: Would you like cash to be abolished?

http://www.bbc.co.uk/news/world-europe-10538032

In this BBC article, it is reported that Sweden is steadily phasing out cash, as more and more people use only debit or credit cards. Ex ABBA member Bjorn Ulvaeus says he sees no practical reasons to have coins or banknotes.

How would you like to live without cash, and what are the pros and cons? What about the chance to cut crime? Some financial crimes may vanish with no cash – certain people don’t want a trail of electronic evidence. We could see what people have earned, so no tax fraud. But what about paying for certain things like the services of tradesmen, taxis, etc. Would you like cash abolished, or is it just madness?

Answer: It would not work.

People in the black economy would switch to using other means or items of value to barter and or exchange, creating more problems than exist already – like prohibition it would create a new criminal industry.

Better to allow the people to choose cashlessness that force it upon them, in time it may well happen, but not yet

Organized Crime in Charge of EU Carbon Trade, Europol Says

Question: What can you do to ensure a comfortable retirement?

My mother is retiring next year.

What can she do now, within the UK personal finance spectrum (savings schemes, tax credits, pension scheme tricks and tips, discount schemes for pensioners) that will mean she can enjoy a nice lump sum on retirement?

She worked for the NHS for a time, but now works in a private health care and I’m pretty sure she has a private pension scheme too. Does that change things?

All answers ABOVE BOARD please! ]

Answer: On the personal finance level, I can’t advise you – but in terms of your mum thinking about her health in future years, she should definitely look at setting up some kind of arrangement with you / other kids/ trustworthy relatives whereby she can sign her house over to you (that is, if she is an owner-occupier).

You probably know that if your mum goes into care, she will have to use any savings above 18k to pay for her care – i.e. in effect she would need to sell her home to pay for it.

IN the long run it may well therefore make a lot of sense for her to ‘give’ the house to you – and she uses the money for herself over the years – I think legally you would need to charge has a small nominal rent.

This is all entirely legal. It means your mum could enjoy the capital in her home right now and in ‘nearer’ future years, and then if she does need to move into local authority or housing association sheltered accommodation or a care home, the state would have to pay, rather than your mum using her own money.

Something else your mum could look at is whether her existing home is in tip-top condition to prepare her for retirement – increasing age and fraility etc. Check out if you have a ‘Home Improvement Agency’ in your area. They specialise in helping over-60s and/ or disabled people stay living in their own home for as long as possible – i.e. they are entirely trustworthy and will do repairs, adaptations – sometimes for free, sometimes for a small fee.

Alcohol tax hike gets some cheers, some jeers

Starting Friday, it’s going to cost a bit more to buy your favorite adult beverage – and health advocates are delighted. For the first time in 38 years, the state has raised the sales tax on beer, wine and liquor. Officials say the increase will generate about $85 million in additional revenues. The increase raises the tax on alcohol from 6 to 9 percent, a jump advocates say will curb underage …

Harman confronts Cameron over Budget during PMQs

Question: Uk Working Tax Credits.?

Hi can anyone tell me if you are suitable for working tax credits if you live with a family member in their home and have no children living with you. I know you have to work over 30 hours.

Answer: Yes, however, you must be
aged 16 or over and responsible for at least one child, or
aged 16 or over and disabled, or
aged 25 or over and usually work at least 30 hours a week

follow the link for the tax credits calculator (regarding qualifying):

http://taxcredits.hmrc.gov.uk/Qualify/DIQHousehold.aspx

To work out your tax credits if you qualify see what tax credits you can get:

http://www.workingfamilies.org.uk/asp/calculator/

UPDATE 1-UK public sector workers strike as protests hit Europe

* UK teachers, civil servants to strike over pensions * Violence flares in Athens, protest planned in Poland * UK strikes are a test for government after U-turns (Adds comments from prime minister) LONDON, …

Construction Work…50 rehabhouses no money no credit part #1 : HARD MONEY

Question: In the UK, is child maintanance taken into account when working out the amount of Family Tax Credits received?

I am just filling out an application and wondered if it classed as ‘other income’ as I can’t find anything on the internet to suggest either way. Thank you

Answer: I don’t think it makes a difference but you still have to tell them about it. Ring them and they’ll help you fill in the form.

Welfare overhaul plans ‘imminent’

Details of a major overhaul of the benefits system will be published “imminently” in a government bill, a committee of MPs hears.

This is an advert for the government- road tax vs. tax credits