Better off tax calculator
If you are on benefits you might just find than you'd be better off working. The links below will help you asses your situation.
The new better off calculator provides information on whether there is financial benefit of moving into work and promotes take-up of Working Tax Credit.
Two helpful Working Tax credit Websites:
The calculator complements other calculators which can:
a). maximise incomes through increasing benefit take-up
b). provide information on the impact of welfare reform on residents.
For those who can work, new government rules ensure that most will be better off if they do work. Not only does this increase the resident’s income, it also leads to protection from benefit changes such as the benefits cap if they meet the qualifying criteria for Working Tax Credit. For local authorities, their finances are directly impacted by the amount of Council Tax Support that is paid out.
It is important that any residents who can increase their income through Working Tax Credit do so, as this will lead directly to a reduction in council expenditure through the Local Council Tax Support scheme. For both of these purposes it is important that residents and local authorities can identify who will be better off in work and how much better off they will be. It is also important to identify in-work entitlements that are not being claimed, in particular Working Tax Credit.
How does the new better off calculator work?
- Accessed via the results area of existing calculators
- Clearly illustrates the financial benefits of moving into work
- Relevant, accessible, accurate and authoritative
- Customisable through a content management system
- Full management information and statistics