Working Tax Credit Help

Inespa85

Hello,
Just wondered if anyone can help point me in the right direction really. Since having my little girl in Oct 08 we get working tax credit but not child tax credit. When i returned to work i took a pay cut and my OH came off shift so took a pay cut. All in all we lost about £7000 a year but this only increased out monthly payment by about £5 a month. I am currently pregnant with baby number 2 and just wondered whether there was a way to find out what the income brackets are to how much tax credit you get? I hope this makes sense.
Paula

alwaysonthego_2

Inespa85 wrote: »

Hello,
Just wondered if anyone can help point me in the right direction really. Since having my little girl in Oct 08 we get working tax credit but not child tax credit. When i returned to work i took a pay cut and my OH came off shift so took a pay cut. All in all we lost about £7000 a year but this only increased out monthly payment by about £5 a month. I am currently pregnant with baby number 2 and just wondered whether there was a way to find out what the income brackets are to how much tax credit you get? I hope this makes sense.
Paula

are you sure you mean you are getting CTC but not WTC?

How much is your joint salary per year?

Inespa85

Hello,
Sorry i got it round the wrong way we're getting CTC not WTC.
Our joint income would have been around £34000 but we've both had to take a 10% pay cut for 6 months but when i told them this and they've adjusted our file but uts not made any difference in payments. This gives us £46.86 per month then in April it will go down to £42.11.

alwaysonthego_2

It probably went down because you lost the baby premium when your child recently turned one.

You could ask them to work out your payments on an estimate salary figure for this year, TBH I don't think it will make much of a difference due to the new tax year being so near and if you are earning over £25,000 then your payment would work out to be only £10 per week so it does seem correct what you are getting!

Inespa85

ok, thank you for your help

loobyloo0302

As of when did earning more than 25000 mean you got the £10 per week rate? Jointly our last periods earnins were just a little bit more than 25000, at around 26800, for two children, we received about £35 a week after the baby rate ceased.

alwaysonthego_2

Did you earn less last tax year?
Do you get child care payments?

I have doubled checked on entitledto but a couple who have joint earning of approx £25000 or over will just get the basic family element of about £10 per week.

flea72

loobyloo0302 wrote: »

As of when did earning more than 25000 mean you got the £10 per week rate? Jointly our last periods earnins were just a little bit more than 25000, at around 26800, for two children, we received about £35 a week after the baby rate ceased.

having 2 kids makes a big difference, compared to only having one, with that level of income

once the OPs new baby arrives, they will be entitled to quite a bit more CTC

F

flea72

Inespa85 wrote: »

just wondered whether there was a way to find out what the income brackets are to how much tax credit you get? I hope this makes sense

http://www.hmrc.gov.uk/leaflets/wtc2.pdf

page 6, very helpful

F

Inespa85

Hello,
Thank you for the link. Just trying to work it out is the figure if you earn say less than £20000 a year you'd get £3475 or if you earn between £20000 - £25000 you'd get £3475. I hope that makes sense.
Also is there anyone i could go and see like the tax office etc to see what my options would be when i returned to work. At the moment i work 4 days and earn about £17000 but id rather work 3 days but its all dependant on money really as my OH works full time so i'm not sure what we'd be entitled to if i returned less like working tax credits etc as we dont qualify for these at the minute.

alwaysonthego_2

Inespa85 wrote: »

Hello,
Thank you for the link. Just trying to work it out is the figure if you earn say less than £20000 a year you'd get £3475 or if you earn between £20000 - £25000 you'd get £3475. I hope that makes sense.
Also is there anyone i could go and see like the tax office etc to see what my options would be when i returned to work. At the moment i work 4 days and earn about £17000 but id rather work 3 days but its all dependant on money really as my OH works full time so i'm not sure what we'd be entitled to if i returned less like working tax credits etc as we dont qualify for these at the minute.

You are best going to the CAB for a better off calculation.