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.
The calculator complements the objectives of entitledto’s existing calculators which are to:
a) maximise incomes through increasing benefit take-up
b) provide information on the impact of welfare reform on residents.
For those who can work, the new 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?
The better off calculator has been developed to complement existing benefit calculators. It enables the user to present a hypothetical circumstance of employment and see clearly the impact on their income – both their total net income and the impact on the individual’s benefits and tax credits. It clearly shows whether there are financial benefits of moving into work. Contact us now to find out how this new functionality can work for you.
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