Tax Credits - Please Help! So confusing...

chudleyette

I am completely baffled trying to work out what I would be entitled to under the tax credits system - if anyone can help it would be appreciated!

I currently work full-time and am recently separated - now a single parent with joint custody of one child (18 months). I would like to go back to university in September to study on a full-time professional postgrad course for a year, but I cannot work out whether I would be entitled to anything. I would not have an income from Sep-Apr in this tax year, but would have one from now until Sep, so should I be estimating my income for the next 5 months and using that as the basis of my budget? I will then be in a similar position next financial year, with no income from Apr-Jul when the course finishes, assuming I gain employment straight away.

Also, does anyone know whether both parents can claim tax credits if they are sharing custody of the child?

Hope someone can help!

TIA.

karenx

Only the main carer of the child can claim the tax credits, which is usually the one who also claims the child benefit.
So the person claiming the tax credits will get the child element only if not working. Should be about £45 per week for a single parent.
You say you have no income but with being a single parent you will be getting your student loans/grants also.
Plus income support which is about £60 per week, and child maintenance from the other parent. Which is 15% of their take home monthly/weekly pay
This is all assuming you are the parent with care.
If you arent the parent with care you are not entitled to any child related benefits and would only get your student loans from uni.

chudleyette

Thanks karenx.

I don't think I am entitled to any student loans or grants. I can get a career development loan to pay the fees, but won't have any income other than that (am hoping to be made redundant and use that money to partly cover morgage and bills for the year).

My husband and I have exactly the same caring responsibilities - 50/50 split, although I get the child benefit, so we don't have any child maintenance arrangement.