Resolving debt problems should always begin with looking at ways of increasing your income.
Benefits and tax credits
Are you claiming the correct benefits and at the correct amount? Many people do not claim benefits to which they are entitled.
Remember there are different types of benefits. Some are based upon national insurance contributions, some are based on your income and capital, and others that are based upon your personal care and mobility needs. From 6 October 2003, people aged 60 or over may be able to claim pension credit. See benefits for older people for more information.
It is always worth getting your benefits checked by an adviser to make sure the claim is correct, up to date and you are receiving everything to which you are entitled.
Some people miss out on benefits because they wrongly assume they cannot claim anything when they are working. Many benefits can be paid if you are working and your income is low enough.
Help with benefits can be obtained from your local Citizens Advice Bureau or independent advice centre.
If you are working you may be able to claim working tax credit, and if you are responsible for a child you may be able to claim child tax credit ? see factsheet 13 - tax credits.
The Inland Revenue has a telephone helpline - 0845 300 3900 (0845 300 3909 if you have speech or hearing difficulties. You can also check your entitlement and claim online, www.inlandrevenue.gov.uk
Tax Allowances
Anyone paying income tax and bringing up a child aged under 16 can claim a children's tax credit. This is a form of tax relief and is available to employed or self-employed persons.
Contact your local tax office for more information or phone the children's tax credit helpline on 0845 300 1036.
Tax Codes
Always check if your tax code is correct for your circumstances - you can obtain further information from your CAB or Inland Revenue office.
All of this will help you to maximise your income and minimise your costs. |
