child tax credit from 2011 2012

mummyfie

"The income limit for Child Tax Credit is going down

Child Tax Credit payments depend on your circumstances and income.
At the moment, you can usually get some Child Tax Credit, as long as your income is not over the limit of £41,300. From 6 April 2012, this limit will be lower for most people.
From 6 April 2012, the income limit for you will depend on your own situation. But as a very rough guide, you might not be able to get Child Tax Credit from 6 April 2012 if:

• you have one child, and your annual income is more than around £26,000
• you have two children, and your annual income is more than around £32,200

But it's important to know that:

• this is a rough guide
• the income limit for you may be different, as it depends on your own circumstances

You could still qualify from 6 April 2012 if your income is above these amounts. For example, if you pay for registered or approved childcare, are disabled, or have more than one or two children.
You can find out how your own payments may be affected by checking your award notice for 6 April 2011 to 5 April 2012." found this on HM rev website.

jaxjax123

I am having trouble getting an accurate figure because I am a full time student and my husband works 45 hours a week earning £33,000 per year.
We pay £110 a week childcare. We have 2 children one in full time ed and a 2 year old.
Do the student grant and loan count as income?

Supermum44

Could anyboby help, I have received a letter from the tax credit office today saying that our payment are going to stop from April this year, as they now say the max you can earn joint or single is £26,000. We only get the basic of £41.00 every 4 weeks. We both work over 16 hours a week and have 2 children. Is this correct, I did try to call them today with no luck getting to speak to someboby. Was going to call them on Monday.:(

kerryallc71

read this its something about inaccurate letters , hope this helps , someone will be along later to help ..

https://forums.moneysavingexpert.com/discussion/3789445

see you from Kerry .

kerryallc71

also this .. about getting letters .

http://www.hmrc.gov.uk/taxcredits/keep-up-to-date/renew-claim/leaving.htm

zagfles

Supermum44 wrote: »

Could anyboby help, I have received a letter from the tax credit office today saying that our payment are going to stop from April this year, as they now say the max you can earn joint or single is £26,000. We only get the basic of £41.00 every 4 weeks. We both work over 16 hours a week and have 2 children. Is this correct, I did try to call them today with no luck getting to speak to someboby. Was going to call them on Monday.:(

No it's not correct - the limit if you have 2 children is about £32200 (more with childcare/disabilities). See the other thread linked above.

But I suspect you're over this anyway if you're only getting the family element now.

Unless you're on way over £32k it's probably worth leaving the claim open just in case you lose your job, have another child etc - it'll be a lot easier to reclaim if you need to - just need to phone them.

zagfles

jaxjax123 wrote: »

I am having trouble getting an accurate figure because I am a full time student and my husband works 45 hours a week earning £33,000 per year.
We pay £110 a week childcare. We have 2 children one in full time ed and a 2 year old.
Do the student grant and loan count as income?

See http://www.hmrc.gov.uk/manuals/tctmanual/TCTM04005.htm

zagfles

choksivimal wrote: »

Hi,

I dont understand at all. Could you all please help me with the calculations for year 2012.

Currently I am working for 50 hours and Mrs works for 25 hours. we have no child care costs and no disabilities.

We are couple with 2 kids jointly earning £34500(before tax) per year. Based on this what would i be entitled for the year 2012?

I am thinking of reducing my hours to spend more time with my family and if that happens our income would drop by £5500. In that circumstances what changes would i see in my child tax credit entitlements.

I would be grateful if you could explain the calculations. Thanking you in anticipation.

Next year (from April) you won't get anything on £34500. And there's a disregard for income drops next year so if your income dropped to £29000 you'd be assessed on an income of £31500 which would get you a little in tax credits but only about £300 for the year. Though the following year (2013-14) it'd be based on £29000 if your income stayed the same.

jackieblack

Supermum44 wrote: »

Could anyboby help, I have received a letter from the tax credit office today saying that our payment are going to stop from April this year, as they now say the max you can earn joint or single is £26,000. We only get the basic of £41.00 every 4 weeks. We both work over 16 hours a week and have 2 children. Is this correct, I did try to call them today with no luck getting to speak to someboby. Was going to call them on Monday.:(

Details on changes to the tax credits from April here

The income limit for Child Tax Credit is going down
Child Tax Credit payments depend on your circumstances and income.
At the moment, you can usually get some Child Tax Credit, as long as your income is not over the limit of £41,300. From 6 April 2012, this limit will be lower for most people.



From 6 April 2012, the income limit for you will depend on your own situation. But as a very rough guide, you might not be able to get Child Tax Credit from 6 April 2012 if:

• you have one child, and your annual income is more than around £26,000
• you have two children, and your annual income is more than around £32,200

But it's important to know that:

• this is a rough guide
• the income limit for you may be different, as it depends on your own circumstances

You could still qualify from 6 April 2012 if your income is above these amounts. For example, if you pay for registered or approved childcare, are disabled, or have more than one or two children.