5. State Benefits and HMRC tax credits Flashcards

1
Q

x5 Universal credit replacing

A
  1. Income support
  2. Income. based jobseekers allowance
  3. Income related employment and support allowance
  4. Working tax credit and child tax credit
  5. Housing benefit
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2
Q

Working tax credit

A

top up salary

  • disability
  • childcare
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3
Q

Income support

A

Tax free
Not contribution based
Working less then 16 hours

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4
Q

Support for mortgage Interest loan

A

£100,000 with pension

£200,000

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5
Q

Statutory Maternity pay

A

Taxed
Contribution baseed

Employed
11 weeks before baby due
paid for 39 weeks

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6
Q

Maternity Allowance

A

Tax free
Contribution based

Unemployed
11 weeks before baby due
paid for 39 weeks

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7
Q

Child Benefit

A

Tax free
Means tested

Over £50,000 combined tax is applied

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8
Q

Child tax credit

A

16 or under 20 if in education

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9
Q

Statutory sick pay

A

Taxable
sick for 4+ days
up to 28 weeks

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10
Q

Employment and support allowance

A

ill or disabled people
2 types:
- contribution based
- Means tested

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11
Q

Attendance allowance

A

65+
Means tested
Support with care
Day and night support

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12
Q

Disability Living allowance PIP

A

Tax free
help with personal care
Two types of components - Care and mobility

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13
Q

Carers Allowance

A

Taxable

Paid to career

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14
Q

Basic State Pension

A

Sufficient NI paid for 30+ years

Self employed and employed

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15
Q

Additional state pension

A

Top up pension

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16
Q

Single Tier Pension

A

Contributions based