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Post Info TOPIC: Family and Working Tax Credits


Expert

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Family and Working Tax Credits
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I just caught a little snippet of the news last evening, Looks like a lot of people are prepared to give up their jobs because of the increase in hours. One lady said 'It's not as if i can go into work and demand another 8 hours from them' fair point.

Will we hit over 3 million unemployed again?

Was the 16 hours a reason for employers to create jobs?

This is one story i am going to be interested in watching unfold.

What are your views?

Neil.

 

 



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There's less than no money left and a fundamental problem when 1 in 7 of the workforce isn't working.  

My bro was favouring greater public borrowing when the bubble burst.   "There's loads of money available - France is borrowing 60pc GDP and we're only borrowing 43pc"

Tim



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I'm not making any decisions on this topic just yet. I want to see which way the majority of the forum leans, i think the government have obviously discussed this at great length before announcing it. A better understanding of their reasoning and thoughts on how people would secure the extra hours is what i'm looking for. Like i said, from seeing the news report it looks like a whole bunch of people are just going to tools down and give up. Mothers working part time seem to think (and i presume they have done the calculations) that they will have more money as stay at home mums. Surely this is the wrong way to right something? Unless the saving, by paying these people to stay at home is greater than paying tax credits to part time workers?

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It's insane.

That's about all I have to say on the subject.

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Expert

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I thought it affected everyone, but after reading a bit more about it it's the families combined hours that must be 24hrs or more. So mum and dad can do 12 hours each. And it doesn't appear to impact on single parents whose hours stay at 16.

Kris

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So single parents can still work only the 16 hours and still receive tax credits Kris?

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Yes, they haven't been as clear as they could be, but if you read the link below you'll see they are talking about couples with children.

http://www.hmrc.gov.uk/taxcreditsbudget/index.htm#2

The ICAEW seems to clarify it better: http://www.ion.icaew.com/TaxFaculty/21606

Kris

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BKN Most Innovative Accountancy Firm 2012

Director and Co-Founder of The Bookkeepers Alliance

 



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I have no idea why this government is driving people out of work, granted, the jobs will be taken by others so unemployment probably will not increase because of this, but considering that the vast majority of part-time workers in the UK are women, it appears that, yet again, they are the ones being shafted.



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