Child Tax Credits

critterfritter

Hi There

Another question this time relating to child tax credits

Myself and partner run a company that brings in around 24K net per year. Would we be entitled to any Child tax credits when my partner has our first child later in the year ? If so, is there a rough guide on what this might work out at ?

Also as she is self employed is there anything else she could claim along side child tax credits ?

Sorry Im really useless at working out this stuff so any information greatfully recieved

lb1984

Hey best thing to do is just contact them, they will be able to tell you what you can apply for, or some midwives do let you know, i remember mine telling me apply for everything if you dont get it you dont get it. although i was a single working mother.

mitchaa

You need to declare gross I think.

If it's net, that would hardly be fair as £24k net is around £32-33k gross in PAYE terms and PAYE claimants declare gross income.

mitchaa

Saying that, even on that income you would only be entitled to the basic element of tax credits which is £545pa.

You would also get £20.30pw child benefit.

That's about it.

Rolandtheroadie

google benefits calculator and click on the direct.gov link (second one down).

Rolandtheroadie

mitchaa wrote: »

Saying that, even on that income you would only be entitled to the basic element of tax credits which is £545pa.

You would also get £20.30pw child benefit.

That's about it.

Is there not also an additional £545 for a child under 1?

mitchaa

scotsman4th wrote: »

Is there not also an additional £545 for a child under 1?

There is at the moment, but is being abolished soon.

Either January or April 11, so I suppose they will get a portion of the £545 baby element.

critterfritter

thanks for all the feedback and advice!