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    justontime
    Redundancy pay and Child Tax Credits
    • #1
    • 13th May 07, 12:53 AM
    Redundancy pay and Child Tax Credits 13th May 07 at 12:53 AM
    I have been notified that I will be made redundant at the end of this month. I will only get statutory redundancy pay which I believe is not taxable and pay in lieu of notice which will be taxed. As I have care responsibilities (child on DLA high care, low mobility) I intend to remain at home and claim carers allowance and tax credits, husband works full time. The redundancy pay is not large and I will use most of it to reduce the mortgage but I am worried about how it will effect my tax credits. I have one child about to claim a student loan and the other about to claim EMA, I am not really sure how the redundancy pay will effect those claims. Any advice please?
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