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after bonus payrise and back pay,
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comeracing
- Posts: 806
- Joined: 28 Nov 2010, 20:58
- Gender: Male
after bonus payrise and back pay,
my mrs works p time not in royal mail,i am full time in delivery,i do overtime etc,thing is we claim family tax credits,because we both earn under a certain amount,thing is with our bonus backpay etc,i think that in febuary and march that I will have to work NO OVERTIME this could be for up to 8 weeks,my dom will not like this,but where do I stand,shall I tell him end of jan,would he keep me on my own duty or would he just get someone to finish my duty off each day,any constructive thoughts and advice please folks.
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bigal383
- EX ROYAL MAIL
- Posts: 492
- Joined: 11 Dec 2012, 16:20
- Gender: Male
Re: after bonus payrise and back pay,
hiya pal alot of people in your situation working tax etc dont take into account for something like £2500 . so if you told them your income would be 13000 each so 2600 i think your allowed 28500 before you get shafted so i wouldnt worry
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scirocco'r'
- Posts: 64
- Joined: 09 Aug 2010, 18:12
- Gender: Male
Re: after bonus payrise and back pay,
Pay the overtime money into your Royal Mail pension or another private pension as an additional contribution.
The grossed up amount ,that is what you pay in divided by 0.8, is deducted from your total
earnings to get to your earnings for tax credit purposes for that financial year.
You may end up getting more tax credits, you will be better off in retirement and your DOM will
leave you alone.
I am not qualified to give this advice so check it out first !
The grossed up amount ,that is what you pay in divided by 0.8, is deducted from your total
earnings to get to your earnings for tax credit purposes for that financial year.
You may end up getting more tax credits, you will be better off in retirement and your DOM will
leave you alone.
I am not qualified to give this advice so check it out first !
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chooch
- Posts: 323
- Joined: 21 Jul 2010, 13:14
- Gender: Male
Re: after bonus payrise and back pay,
Been There, Got the Beanie!
The thing is the longer you leave it ie. the longer you carry on with the O/T, the further you'll be 'over' come the end of the financial year and the Tax Credit people will then start readjusting (and churning out reams of statements too!.. I know it's all work for RM but it's a f**kin' headache to decipher!) and claiming back
Look, I don't know how you stand with your DiM but I'd walk in first day of the New Year, wish him well and say you need to talk to him, in his office, when you get back from Delivery -
Just tell him you've had time over the Holiday to reassess things ( he doesn't need to know the ins and outs ) and that you're going to be reverting back to Full Time come the end of January and that you're telling him now to give him time to redistribute the O/T you usually work.. ..There's usually all manner of changes going on anyways so take the opportunity to request you remain on your 'own' round if that's what you want.. ..Or see what he offers you..
( and I keep my circumstances to myself; seen too much trauma from people being stabbed in the back.. )
(Just seen scirocco'r' reply above - If you can get that confirmed and you're happy to carry on with the O/T that looks good to me
)
The thing is the longer you leave it ie. the longer you carry on with the O/T, the further you'll be 'over' come the end of the financial year and the Tax Credit people will then start readjusting (and churning out reams of statements too!.. I know it's all work for RM but it's a f**kin' headache to decipher!) and claiming back
Look, I don't know how you stand with your DiM but I'd walk in first day of the New Year, wish him well and say you need to talk to him, in his office, when you get back from Delivery -
Just tell him you've had time over the Holiday to reassess things ( he doesn't need to know the ins and outs ) and that you're going to be reverting back to Full Time come the end of January and that you're telling him now to give him time to redistribute the O/T you usually work.. ..There's usually all manner of changes going on anyways so take the opportunity to request you remain on your 'own' round if that's what you want.. ..Or see what he offers you..
( and I keep my circumstances to myself; seen too much trauma from people being stabbed in the back.. )
(Just seen scirocco'r' reply above - If you can get that confirmed and you're happy to carry on with the O/T that looks good to me
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comeracing
- Posts: 806
- Joined: 28 Nov 2010, 20:58
- Gender: Male
Re: after bonus payrise and back pay,
thanks for replies,i think I will play safe work out our earnings beginning of jan compare them to last year.then see the dom in jan and just tell him due to circumstances I will not be able to work overtime till march/april,i will certainly not tell him my reason.
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Mr Incognito
- Posts: 64
- Joined: 02 Jul 2013, 21:02
- Gender: Male
Re: after bonus payrise and back pay,
You could always ask a trustworthy colleague who does not claim benefits to have your O/T payments put on to their wage slip and then he/she could just give you the cash for a small royalty payment
.
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doob
- Posts: 61
- Joined: 20 Sep 2009, 21:52
- Gender: Male
Re: after bonus payrise and back pay,
Of course if you are earning over the amount to claim benefits, maybe you shouldn't be having them. We will be earning nearly 21000 a year after new pay rise so your wife must not earn more than 5000 a year. Far too many in my d.o are claiming benefits when they shouldn't be but I suppose if they like taking the risk so be it.
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comeracing
- Posts: 806
- Joined: 28 Nov 2010, 20:58
- Gender: Male
Re: after bonus payrise and back pay,
21,000 a year after the new pay rise ,think you've been of the xmas sherry a bit to earlydoob wrote:Of course if you are earning over the amount to claim benefits, maybe you shouldn't be having them. We will be earning nearly 21000 a year after new pay rise so your wife must not earn more than 5000 a year. Far too many in my d.o are claiming benefits when they shouldn't be but I suppose if they like taking the risk so be it.
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TrueBlueTerrier
- FORUM ADMINISTRATOR
- Posts: 72727
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Re: after bonus payrise and back pay,
A FT will be before taxcomeracing wrote:21,000 a year after the new pay rise ,think you've been of the xmas sherry a bit to earlydoob wrote:Of course if you are earning over the amount to claim benefits, maybe you shouldn't be having them. We will be earning nearly 21000 a year after new pay rise so your wife must not earn more than 5000 a year. Far too many in my d.o are claiming benefits when they shouldn't be but I suppose if they like taking the risk so be it.
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doob
- Posts: 61
- Joined: 20 Sep 2009, 21:52
- Gender: Male
Re: after bonus payrise and back pay,
No that's right obviously before tax man has any of it. It may even be more than that in my area.
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arnold cheshire
- Posts: 5309
- Joined: 14 Oct 2010, 21:28
- Gender: Male
- Location: england
Re: after bonus payrise and back pay,
you can claim working tax credit well above 26000 but you probably on get small payment a week depends how many children you havedoob wrote:Of course if you are earning over the amount to claim benefits, maybe you shouldn't be having them. We will be earning nearly 21000 a year after new pay rise so your wife must not earn more than 5000 a year. Far too many in my d.o are claiming benefits when they shouldn't be but I suppose if they like taking the risk so be it.
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arnold cheshire
- Posts: 5309
- Joined: 14 Oct 2010, 21:28
- Gender: Male
- Location: england
Re: after bonus payrise and back pay,
do you mean extended overtime ? i dont think a thousand would make any difference anyway because they allow for payrisescomeracing wrote:my mrs works p time not in royal mail,i am full time in delivery,i do overtime etc,thing is we claim family tax credits,because we both earn under a certain amount,thing is with our bonus backpay etc,i think that in febuary and march that I will have to work NO OVERTIME this could be for up to 8 weeks,my dom will not like this,but where do I stand,shall I tell him end of jan,would he keep me on my own duty or would he just get someone to finish my duty off each day,any constructive thoughts and advice please folks.
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doob
- Posts: 61
- Joined: 20 Sep 2009, 21:52
- Gender: Male
Re: after bonus payrise and back pay,
I apologise that's my bad, I only looked up for one child and it said not entitled if earn over 26000 in your household. I didn't realise it had stipulations with more children. It was a while back when I was thinking of having children.
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Pat Ostman
- Posts: 2797
- Joined: 17 Sep 2008, 21:53
- Gender: Male
- Location: In the Line Managers office being screwed over.
Re: after bonus payrise and back pay,
You do not get any working tax credits if you earn over 17750 or there's about.
So how can it make any difference?
Or is this child tax credits?
So how can it make any difference?
Or is this child tax credits?
Run, rabbit run. Dig that hole, forget the sun.
And when at last the work is done. Don't sit down, it's time to dig another one
And when at last the work is done. Don't sit down, it's time to dig another one
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Postaltony
- Posts: 120
- Joined: 03 Oct 2013, 14:54
- Gender: Male
Re: after bonus payrise and back pay,
I earn over £17750 and still get working tax credits, the more you earn the less you get.Pat Ostman wrote:You do not get any working tax credits if you earn over 17750 or there's about.
So how can it make any difference?
Or is this child tax credits?