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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

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Working tax credit

  • nicwin
  • nicwin's Avatar Posted by
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  • Elite Member
11 May 14 #433063 by nicwin
Topic started by nicwin
I''m currently working 16 hours a week and I get working tax credit although not the full amount. I think I will be offered some more hours as a colleague is going to reduce theirs. Not sure exactly how many yet but possibly 5 taking me up to 21 a week. I know there is a calculator that tells you how much I will get but not sure how accurate it is. I''m wondering how much my credits will be reduced by taking these extra hours. I''m studying a course at the same time as working, with the hope of starting my own business so working part time fits in with this. I''m very conscious that I will get out of the course what I put in, so want to give it lots of attention. I''m also worried as I need to apply for a mortgage once my Consent Order comes through and worried how working partime and getting benefits will effect this, obviously the more I earn through a job rather than benefits the better.

Does any one know if tax credits reduce per hour you work or if there is brackets 16-24 rings a bell but not sure where I heard this. Is there anywhere or any body that can give me some advice. I don''t want to accept more hours at work and end up losing money and not being able to put lots of time into my course.

  • WYSPECIAL's Avatar
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12 May 14 #433086 by WYSPECIAL
Reply from WYSPECIAL
They don''t reduce pound for pound so you will be financially better off with the increased hours.

There are brackets but it goes 16-29 hours then 30 hours plus where you get an extra allowance for working 30 hours. I think the 24 hours you are referring to is that if you don''t have children you have to work at least 24 hours per week to claim wtc.

try www.entitledto.co.uk/

I found it completely accurate but you can test it out by putting your current situation in. If it gives you the same amount you currently receive you know it is right!

  • WorldsBiggestMug
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  • Elite Member
  • Elite Member
12 May 14 #433103 by WorldsBiggestMug
Reply from WorldsBiggestMug
The 24 hour band is the minimum hours needed for a couple with children to claim WTC.

The next band for you is the 30 hour where they add an extra amount on.

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