working tax credits

susieanne

I always thought that the threshold for WTC was that you had to be earning £15,000 or less to qualify but i was told it was more than that could anybody tell me what this is ?

Also i rang tax credits and they said the threshold from April for WTC is going up to i think he said £24,400 can somebody confirm this .

I forgot to ask them what the threashold was now

CIS

The threshold will vary depending on your personal circumstances and earnings.

susieanne

CIS wrote: »

The threshold will vary depending on your personal circumstances and earnings.[/quote

Thanks i didnt realise that i will give you some figures hopefully somebody earns similar to us so we can compare .

My husband works 40 hrs earns approx -£18,800

I receive incapacity benefit -my income from my incapacity -£5000

combined income -TOTAL £23,800

We have 3 children under 16



Tax credits said we arnt entitled to WTC but we may be in April when the threashold for WTC goes up

CIS

Assuming you have no child care and no child under 1 then I work it out as ;

Total elements = £11077

Total Income £23800
less
Threshold of £6420
= £17380

£17380 * withdrawl rate of 39% = £6778

Tax Credits payable = £11077 - £6778 = £4299

susieanne

Sorry i dont understand about the bit that says less threshold £6420 withdrawel rate 39% whats this ?

Also do you know what the threshold for WTC is in april 2009 based on my circumstances would we be entitled to WTC then ?

Thanks very much for your help its so hard to understand and i cant get through to tax credits today to ask .

mumofjusttwo

Have you tried https://www.entitledto.com? These appear to be quite good

CIS

These figures are based on 2009/10.

The threshold is the amount of income you can earn before your tax credits begin to be reduced.

The withdraw rate is the reduction you receive in tax credits for any income you earn above the threshold - i.e for every £ you earn above the threshold you lose 39p of your tax credits.

susieanne

mumofjusttwo wrote: »

Have you tried www.entitledto.com? These appear to be quite good

thanks yes i have looked at this website at the moment we are not entitled to WTC just CTC but i was told in April 2009 the threashold for WTC is going up so we may be entitled in april but i am not sure if i have been informed correctly .If i go onto entitled to or tax credits help page it will only give me figures for now and not for the new tax year .I wondered if anyone else had been told about the new figures .

gizmo111

susieanne wrote: »

thanks yes i have looked at this website at the moment we are not entitled to WTC just CTC but i was told in April 2009 the threashold for WTC is going up so we may be entitled in april but i am not sure if i have been informed correctly .If i go onto entitled to or tax credits help page it will only give me figures for now and not for the new tax year .I wondered if anyone else had been told about the new figures .

You can change the dates in the drop down box at the beginning.

susieanne

Thanks just been on entitleto website i did not know you could put in 2009-2010 dates i have just put them in its showing that i will have an increase in april of CTC of around £15 per week but doesnt say that i will be entitled to WTC .

It was tax credits helpline that told me about the threashold for WTC going up in April so even though im not entitled now i will be in April but the calculator doesnt show this in the figure its just given me so i am still no wiser whether i can claim WTC :rolleyes:

CIS

WTC and CTC are worked out As part of the same calculation - your WTC entitlement would be zero with the £4299 being CTC.