Donate SIGN UP

Working tax credit

Avatar Image
jrtv | 15:42 Mon 25th Oct 2010 | Business & Finance
5 Answers
Does the working tax credit stop when you reach pension age and start to receive the state pension ?
Gravatar

Answers

1 to 5 of 5rss feed

Best Answer

No best answer has yet been selected by jrtv. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Not if you are still working & qualify for it. But the pension is part of your income & any increase in income will reduce or remove entitlement. You must let Tax Credit Office know when you start gettting the pension.
If you're continuing to work, you can put off actually taking the pension and allow it to build up. It will be worth more when you eventually take it. I don't know if wtc ignores it (because it won't show up as your income yet) but I'm sure the govt website or CAB could explain.
Question Author
Thanks to you both, I have been on there web site and its a mind blowing. I am self employed but will pick up my state pension next Feb, that will take me up £14500 a year, the wife is on a state pension of £6800 making it £21300 so the working tax credits will stop, If I pack in ( got poor heath at mo ) we will have a joint income of £14745, will we be able to claim anything else ?
Probably not, but you need to check out Pension Credit, & possibly Council Tax Benefit & Housing Benefit (if you are renting). I think there is info on direct.gov site, or contact CAB. I suspect your income will be too high but its worth checking anyway.
Question Author
thanks themas

1 to 5 of 5rss feed

Do you know the answer?

Working tax credit

Answer Question >>