I was told this week that I'm going to get a payrise (extra hrs) and it will amount to approx £100 net, a month. I'm allowed the 10% rule so I can earn £57 a month before handing any over.
My partner was made redundant and his new jobs pay and hours are less and weve lost approx £360 a month from his wages, but I've just claimed this week for the first time working tax credits and that amounts to £280 a month. Was told though that we will probably only be able to claim until April next year as were on too much now this year, last years wages were appauling (thats why im in an iva).
Ok so we will be £20 a month better off when my new wage kicks in but I'm really worried about telling my IP.
Will they make me pay more because its my wages that have gone up, even though I need to now contribute more to the bills??
Plus we will lose the working tax credits next April, but at the minute it gives us a bit of breathing space for him to find something better paid.
Do I need to let them know as were really only £20 better off??
I don't think that you have too much to fear at all, I don't think your IP will be overly concerned about a net increase in income per month of £20. However, for your own peace of mind, you should inform your IP, let them crunch the numbers and when they, assumedly, confirm that nothing will change then you have at least heard it from the horses mouth, so to speak.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Hi
Speak with your IP and request another income and expenditure form. Fill this out with your new incomes and expenditure, it sounds as if your payments are unlikely to change
Regards
