child tax credits-is it on a gradual sliding scale?
needmorehelp
Posts: 88 Forumite
Hi there,
Myself and my partner are now living together and we need to make a joint claim for ctc. We have a teenage girl and a new-born.
I was wondering if ctc are paid on a gradual sliding scale as regards your income i.e the more you earn the less you get or is there a drarmatic drop in ctc for example once you cross a certain specific threshold eg £16,000 income which includes incapacity benefit, occupational pension and income from savings?
I went to the entitled to website and when it asked me to put in my savings it then calculated what weekly income I would be assessed at from them. Is this correct for ctc purposes or is it just the income (interest) from savings ctc people want to know,
many thanks
hope someone can answer me.
Myself and my partner are now living together and we need to make a joint claim for ctc. We have a teenage girl and a new-born.
I was wondering if ctc are paid on a gradual sliding scale as regards your income i.e the more you earn the less you get or is there a drarmatic drop in ctc for example once you cross a certain specific threshold eg £16,000 income which includes incapacity benefit, occupational pension and income from savings?
I went to the entitled to website and when it asked me to put in my savings it then calculated what weekly income I would be assessed at from them. Is this correct for ctc purposes or is it just the income (interest) from savings ctc people want to know,
many thanks
hope someone can answer me.
0
Comments
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Have a look at http://www.entitledto.co.uk/ - will give you a fair idea of what you can expect to receive.0
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needmorehelp wrote: »Hi there,
Myself and my partner are now living together and we need to make a joint claim for ctc. We have a teenage girl and a new-born.
I was wondering if ctc are paid on a gradual sliding scale as regards your income i.e the more you earn the less you get or is there a drarmatic drop in ctc for example once you cross a certain specific threshold eg £16,000 income which includes incapacity benefit, occupational pension and income from savings?
I went to the entitled to website and when it asked me to put in my savings it then calculated what weekly income I would be assessed at from them. Is this correct for ctc purposes or is it just the income (interest) from savings ctc people want to know,
many thanks
hope someone can answer me.
It is on a sliding scale but I don't know how it works.
Re the savings - they only count earnings from savings but yes, they calculate what they think you should be earning from them. Well, this happened with my sister anyway as she had money in an ordinary bank account (no, or little interest) but they took so much off her claim anyway.
They don't count money in ISAs though.
Hth0 -
Hi
the HMRC have a calculator on theor website which is fairly accurate, and so you can fiddle about with your figures and try:rolleyes: to make sense of it all. The only problem is is gives you a figure based on todays date till the 5th April 2009, so if you do it today, divide by 9 months and then multiply by 12 months to get an annual figure.
The form you fill in on the calculator tells you exactly what is counted as income, so should be more informative for you.
Hope that helps.
caleo0
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