CTC increase

annies_mum

Hi, does anyone know how much the ctc is been increased by in april. i know how much it is going up by for a single child but i need to know for 3 children and its not simply a case of multplying it by three as it works out lower for three children.
many thanks

zagfles

http://www.hmrc.gov.uk/rates/taxcredits.htm

You multiply the child element by number of kids and add the family element. Child element going up by £255 per child. family element frozen (as it has been since 2003).

annies_mum

zagfles wrote: »

http://www.hmrc.gov.uk/rates/taxcredits.htm

You multiply the child element by number of kids and add the family element. Child element going up by £255 per child. family element frozen (as it has been since 2003).

Unfortunatly it doesn't work like that, if you look on the HMRC website www.hmrc.gov.uk/pdfs.wtc1.pdf/ starting amounts are £2390.00 for one child, £4240 for two children, and £6090.00 for three children. If it was a case of multiplying it by three it would be £7170 over £1000.00 more.
Thanks for taking the time to reply though

annies_mum

sorry the link i posted isn't working, its in the HMRC PDF leaflets as well

zagfles

annies_mum wrote: »

Unfortunatly it doesn't work like that, if you look on the HMRC website www.hmrc.gov.uk/pdfs.wtc1.pdf/ starting amounts are £2390.00 for one child, £4240 for two children, and £6090.00 for three children. If it was a case of multiplying it by three it would be £7170 over £1000.00 more.
Thanks for taking the time to reply though

You only get one family element, as I said. You DON'T multiply the family element, you DO multiply the child element.

That pdf is a few years out of date anyway. The link I posted has the current rates and next year's.