WFT has changed my life for the better (Working Families Tax Credit)

Member Name: cher_2004

Product:	Working Families Tax Credit
Date:	09/11/09 (42 review reads)
Rating:

Advantages: I have been rewarded for going out to work

Disadvantages: Lots of forms to fill in initially.

I thank the lord for Working Family Tax Credits, I really don't know how i would cope financially without them.

So what is Working Family Tax Credit?

Working tax credit is a (benefits) system for families on low income, (I hate referring to it as a benefit) You need to be working over 16 hours a week and if you pay child care you may then be eligible to claim extra credit.

So how does it work?

Well it's an incentive to get low income families out to work.

Does it work?

OK, so I have heard very mixed reviews about this system over the years I have used WFT. I gather it depends on your situation as to if it's beneficial or not.

So here is my experience.

I have been claiming WFT since the day it was introduced, I personally have never once had a problem of overpayment! When I started my claim I was self employed and I am now employed in a part-time roll.

Whenever my working situation has changed I have simply called the helpline and they have amended the details that day. From the moment of you changing your income/ childcare details, they reevaluate your entitlement, they make the amendment very quickly (within 7 days) and normally when a change is made the make 2 payment's within 7 days as if starting a fresh claim, the second payment will be your normal weekly payment, (so your annual payment from date divided by the number of weeks left until April), the first payment is what you have left over (your remainder).

Most of the country are eligible to some sort of tax credit be it working tax or child tax be that a few pence or tens of pounds a month, this is why I don't look upon it as a normal benefit.

WTC is definitely an incentive for me to go to work, I am able to work £20 hours a week get to keep most of my wage as well as being eligible for top of the range wft.

I have a child who is classed as disabled by the government, so I a small additional amount from them to help with that.

I get some of my childcare paid for by them (which I think I touched on before).

This system really works for me! Unlike other benefits, such as housing benefits for instance, don't give you any incentive to go out and work. I have just had my working hours cut mack from 21 hours a week to 16.5 a week. After tax I have dropped £20.00 a week, before the drop in my hours I was entitled to just £5.00 a week, I am now entitled to £45.00 a week housing and council tax benefit.

Summary

I am so grateful as a single mother working in today's society I am so grateful to have the support and financial backing of the government.

If it wasn't for this system then my daughter and I would be living in poverty!

This is my experience.


http://www.hmrc.gov.uk/wftc

Summary: Check to see if you are eligible!