Well, I’ve finally acheived my goal of having more time off than actually working. I’ve got it down to a three day week now, Monday to Wednesday.
All I can say is “God bless agencies, the driver shortage and Working Tax Credit”.
I do around 10-12 hrs a day three days a week so I can qualify for the full Working Tax Credits. I earn just over £200 a week from the agencies so my NI/Tax is now around £20-£25 a week instead of the £80-£100 a week it was before. I’ve also got two kids so I qualify for Child Tax Credit.
So now I have a TAKE HOME income approximately around £18,000 a year, roughly equivalent to around £23000 gross. How many drivers earn that and what hours do they have to do to get it? At my last job, earning that I was on £8/hr which is above average in this job and doing 55+ hrs a week to earn that. At £6/hr which alot of companies pay I’d not stand a chance of earning that unless I was out all week.
And what have I sacrificed? Well, Monday to Wednesday I have to be available to work either nights or days. I’ll not have my own motor and I’ll usually not be at the same firm.
What have I gained? More time with the family. I actually ENJOY the job now because I’m no longer being worked into the ground and I’ve not lost financially either.
My advice is to go for it. You can qualify for WTC even if you’ve no kids. You’ll probably need to sign up to more than one agency though to start with but it is worth it.
I was toying with the idea of trying to work a full weekend, say 2x 12 hr plus shifts, and maybe a day in the week of about 15. It seems it is quite lucrative if the agency can run it right. In the end I didnt bother because I like the job Im in. But, its a great idea for cutting hours if thats whyat your after.
I’m surprised more people haven’t heard about this ! It does actually work because I do it myself. I work about 5 days in every 14, earning an average of probably £350 per week after tax.
My moronic brother, who earns a six figure salary, is incensed by it. He’s always moaning about the fact that its his taxes that are paying for it and how dishonest I am.
Inland Revenue sent me a form (which I filled in) and sent back with my P60’s and wage slips. It’s Inland Revenue who decides how much they’re going to pay you. How is that dishonest ?
Another way of getting an “annual bonus” is by witholding your national insurance number from the agency. They will tax you at “basic rate” - every April you get a nice fat cheque from the tax man because you’ve paid too much tax during the year !
Question on the Working Tax Credit — does claiming it affect your credit rating (for mortgages, cards etc)?
Because I started up last year, I haven’t taken any salary out of the firm. The Inland Revenue website has a WTC calculator, and it says I’m entitled to £1,800. They don’t seem to take savings or investments into account (other than interest/dividends), its purely on earnings.
But if the fact that you’ve claimed it goes on the credit registers, then I’d rather not take it. I’m looking to release a bit of equity from my house for phase 2 of the master plan — a bad credit score might put a spanner in the works!
spaceman:
Question on the Working Tax Credit — does claiming it affect your credit rating (for mortgages, cards etc)?
No, how can it ? The credit reference agencies don’t have access to any data held by Inland Revenue - they’re all completely separate entities. Your credit rating is determined by what finance you have and whether you’ve defaulted or not. This information is provided by the various finance houses.
For example, your credit-rating goes up with the more money you borrow (loans, credit cards, storecards, etc.) and providing you’ve made the payments on time and not missed any. If you were completely debt-free, having no credit cards or finance in any form whatsoever, the credit reference agencies don’t have a record on any payment history and therefore consider you a bad risk.
The system is ludicrous. Go to your bank and ask them how the credit rating system works, they’ll explain it in more detail.
I used there website to see how much they would calculate i would recieve if i did such a thing. I recieve child tax credits but not working tax.
Anyway
Based on say 3 days work at £225 gross (my partner doesnt work) putting in that i did 36 hours a week (3 x 12)
It calculates -
Child tax credit - 1817.80
Working tax - 998.86
Total - 2816.66
Add that to the 12,000 i used as earnings, thats a total of 14818.66
So please can you tell me how you can make that £23,000 a year gross, im not calling you a liar before this kicks off into an argument, im just curious as to how you get it up to that amount?
The calculator should only be used as a general guide because it doesn’t have access to your records. I haven’t a clue how they work it all out but I’m not arguing !
People moan about how illegal immigrants are getting this and getting that. Apply for it, because they certainly do, you might have a nice surprise !
I agree with you, brummie.
If everyone and their dog are claiming for this that and the other, why shouldn’t we ? If you can’t beat 'em, join 'em.-(or at least find out if you are eligible to join 'em !)
It’s taken me a long time to find out, but it seems the harder and longer you graft in this country, the less you benefit, and the more you seem to be taken for a mug !
Sorry folks, it’s just the way I feel at the moment.
Good for you, Conor - starting on Monday, I’m going to start the ball rolling to see if I can arrange something similar for myself.
working familys tax credit can be claimed even if your earning £55,000
i earned nearly £27,000 last year but could still claim £545 which worked out as £40 a month back in your bank account.
i am working of the scale from last year but between 20,000 and 50,000 you can still claim £545.if you earn 15,000 it was £1,965 (this is based on 1 child with no child care other wise it rises)
if you have children this is worth looking intoclick here
I already get it, but only about £600 a year, i just cant see how they can make your money up from about 12k working 3 days to 23k.
The only way you would find out aswell would be to jump ship from your current job and take the risk.
im quite surprised at the answers to this.
apart from flatbedmans that is.
since 1983 when i left school ive always been employed full time and have had 1 day off sick.
im a proud working class man who has never claimed of the state (apart from family allowance) for anything.
the honest hard working taxpayers pay for this.
someone mentioned immigrants and the fact that as they are claiming allsorts of benefits so why should not i.
if you work three days a week then that leaves another 3 days for an immigrant driver to get his foot in the door, earn a pittance of pay for three days and claim off the state for the rest. one big state scrounging circle.
i am a proud man not a state scrounger,.
dave,
I stand by what I’ve said in my previous post above.
Have you seen the adverts recently on TV with the catchphrase “claim it - it’s yours” ? - Its aimed at elderly retired pensioners to encourage them to claim an extra sum of money thay they are entitled to.
Some don’t know about it, some maybe are too proud to claim it , thinking like yourself that they would then become ‘state scroungers’.
I’ve paid my taxes since I started work, many, many years ago. Now I’m going to enquire if I am entitled to a little (or minute) amount of that back.I honestly can’t see anything wrong with that !
Deesider:
dave,
I stand by what I’ve said in my previous post above.
Have you seen the adverts recently on TV with the catchphrase “claim it - it’s yours” ? - Its aimed at elderly retired pensioners to encourage them to claim an extra sum of money thay they are entitled to.
Some don’t know about it, some maybe are too proud to claim it , thinking like yourself that they would then become ‘state scroungers’.
I’ve paid my taxes since I started work, many, many years ago. Now I’m going to enquire if I am entitled to a little (or minute) amount of that back.I honestly can’t see anything wrong with that !
This is why we live her as opposed to the UK.
In this country you would get back more in rebates than you actually paid in tax. Don’t ask me how it works but that is the case.
1st year working here we jointly only paid $1,600 in tax and got $2,000 back the following year in rebates.
Now I earn a great deal more money so the case is different.
Based on this system if used back there some of you would pay hardly any tax but get a lot back from the government.
You have to earn a certain amount to be eligable for tax deductions here. The rich rich pay a lot of tax, single people with no kids pay tax, middle and low class with kids get back more than they put in, which in my oppinion is much fairer.
the " claim it, its yours" adverts were refering to the state pension, nothing else!
and to say that you have paid in, so you can get some back is a bit ridiculous, the tax system is not a savings scheme! its something that we pay as we use, ie health service and local council services etc.
whats so bloody clever about working two or three days a week then claiming benefits just because you can!
people have no pride anymore, everyones after a free ride.
If I retire at 65 while living here I am entitled to Social security, My Fed Ex pension and a full British State pension which with the exchange rate is worth agreat deal more. Acording to the DSS (where we get our info) if I die Kate gets everything. If I become a US citizen I loose the UK pension.
The year I moved here I applied to the Inland revenue and got the previous years tax back but had to sign a promise that I would not come back to the UK for other than a holiday for 7 years.
whats so bloody clever about working two or three days a week then claiming benefits just because you can!
i don’t work a three day work i work 5/5 days per week but it is something i’m entiltled to so i will claim it.
the tax system is not a savings scheme! its something that we pay as we use, ie health service and local council services etc.
local council services!!! what do i pay nearly £1k a year for in council tax then and as for the health service ,i haven’t been to the doctors since my medical 7 years ago,never spent a night in hospital and can’t get a nhs dentist for love nor money.
of people actually looked into what they are entitalled you may be suprised.
jonboy, if you cant work out what you pay your council tax for, im not going to tell you.
you may not have been to the doctors for 7 years, but he is there if you need him?
i agree with you about the dentists, but thats another story altogether.
and as for the health service ,i haven’t been to the doctors since my medical 7 years ago,never spent a night in hospital and can’t get a nhs dentist for love nor money. 
