Increasing & Maximising Income
Increasing & maximising income is important and can go hand in hand with debt & money advice:
- Check all benefit, tax & pension credit entitlement
- Check tax issues (allowances, how much should you pay etc)
- Increasing and upping your income in general (second job, rent out a room etc)
Benefit, Tax & Pension Credits
Making sure you are in receipt of the correct benefits, tax & pension credits and other grants could make a significant difference to your overall situation. This could be of particular importance where a change of circumstance has taken place such as job loss, reduction in income, new child, retirement, health issues, relationship issues, housing etc
Useful links
- NEDCAB Benefits Page
- CAB Adviceguide
- CAB Adviceguide (help for people on low income)
- gov uk (Benefits)
- Working Families Website (benefits & tax credits)
- AgeUK (claiming benefits & Pension Credit)
- Royal British Legion (benefits & money advice service)
- Money Advice Service: Benefits you may be entitled to if you’re separating
Benefit & Tax Credit Calculators
- Turn2Us Benefits Calculator
- Entitledto Benefits Calculator
- Policy in Practice Benefit and Budgeting Calculator
- HM Revenues & Customs Tax Credit Calculator
- gov.uk Benefits Calculator
Forums on benefit, tax & pension credit issues
- Martin Lewis (moneysavingexpert) - Benefits and Tax Credits
- Martin Lewis (moneysavingexpert) - Up Your Money
- Consumer Action Group
- Rightsnet
- Legal Beagles
Tax Issues & Information
Understanding tax and how it affects you can also be important as it could make a difference to your overall income.
Useful links
- CAB Adviceguide
- Taxaid
- Free Tax Code Calculator (Moneysaving Expert)
- How Income Tax, National Insurance and the Personal Allowance works (Money Advice Service)
- Income Tax (Gov.uk)
- HM Revenue & Customs: Income Tax General Enquiries
- HM Revenue & Customs Official Site
Forums on tax issues
Increasing / Upping Your Income (General)
There may be other ways of increasing your income:
- Take a part time second job
- Rent out a room
- Contributions from non-dependents living with you
- Rent out your garage
- Sell any unwanted household items (ie car boot sales, online auctions etc.)