Can someone please work out Tax Credits for Next year

elliemayamyriley

Would someone be able to work my Tax credits out please,i really dont get it:o

couple
partners income 29500
(i dont work)
4 children ages 7,3,2 & 12 weeks


at the moment we get £126.00 per week so wondering how much it will go down to come April.
Anyones help would be appreciated :A

zagfles

elliemayamyriley wrote: »

Would someone be able to work my Tax credits out please,i really dont get it:o

couple
partners income 29500
(i dont work)
4 children ages 7,3,2 & 12 weeks


at the moment we get £126.00 per week so wondering how much it will go down to come April.
Anyones help would be appreciated :A

You'll pretty much break even as you'll gain about £1000 from increased child element and lose about £1000 from loss of baby element and increased withdrawal rate.

£126 sounds too much now (I make it £113) but that's probably because there was a delay updaing your claim when your baby was born so you're getting some backpay.

About £114 pw next year.

carole740

lauzellen wrote: »

Carole... this is how i've worked out your award for from April:

Entitlements: 1920 + 1950 + 790 + 545 + (2555*3) + 2800 = 15670 (assuming not severely disabled)

Reduction due to income = (29580 - 6420) * 0.41 = 9495.60

Over all entitlement = 15670 - 9495.60 = 6174.40 = £118.73 pw

Thanks very much for that, This seems a bit less than we have at the moment. My daughter get HRC & HRM would this be classed as severely disabled?

Thanks

lauzellen

Yes that should qualify you for the severly disabled element... so your award with that would come out at:

16800 - 9495.60 = 7304.40 = £140.47pw

Does that sound closer to what you currently get?

carole740

lauzellen wrote: »

Yes that should qualify you for the severly disabled element... so your award with that would come out at:

16800 - 9495.60 = 7304.40 = £140.47pw

Does that sound closer to what you currently get?

Thanks very much, Yes that sounds about what it is now.

pupsicola

Can anyone advise what my payments should be from April

I recieve child benefit, income support and council tax benefit. I have 2 children aged 8 and 5.

I may be recieving child maintenance payments but that hasn't been settled as yet. Any advice much appreciated

lauzellen

As you will be getting income support you will get the max CTC for 2 children which is an award for £5655 a yr = £108.75 pw

ETA: Thats assuming no disability

pupsicola

lauzellen wrote: »

As you will be getting income support you will get the max CTC for 2 children which is an award for £5655 a yr = £108.75 pw

ETA: Thats assuming no disability

Thank you so much for your advice. How come you are so clued up on all this. Do you work for the department?

lauzellen

You're welcome. No I just read up what I could so I could always check my awards to help ensure I was getting the correct amounts and to enable preplanned budgeting! Particularly handy with all the recent changes.

sprinkly_2

Is there any chance you could help with mine.

Baby will be 1 after the April changes

hubby earns 25k
me 16k maybe a bit less as was on maternity
childcare £53 per week

both work over 30 hrs per week. we just get minimum at the mo, I supose this will go down even more.

Thanks