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What are the tax credit cuts???

HappySad
HappySad Posts: 2,033 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
in Marriage, relationships & families
Do you know what the changes are??? My income is about £26,000.


Could you link me to any good articles about this or do you know what the cuts are???
“…the ‘insatiability doctrine – we spend money we don’t have, on things we don’t need, to make impressions that don’t last, on people we don’t care about.” Professor Tim Jackson

“The best things in life is not things"

Comments

  • Violetta_2
    Violetta_2 Posts: 3,588 Forumite
    Info on the changes here. Tax Credits
    Booo!!!
  • HappySad
    HappySad Posts: 2,033 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Violetta wrote: »
    Info on the changes here. Tax Credits

    thanks Violetta for this info link :beer:
    “…the ‘insatiability doctrine – we spend money we don’t have, on things we don’t need, to make impressions that don’t last, on people we don’t care about.” Professor Tim Jackson

    “The best things in life is not things"
  • esmer
    esmer Posts: 1,444 Forumite
    Just read that and your tax credit can be reduced - at a rate of 39 per cent! Thats worrying.
    Saving 2.00 coins
    Grocerys set to 40.00 pw
    Being Thrifty
  • Violetta_2
    Violetta_2 Posts: 3,588 Forumite
    esmer wrote: »
    Just read that and your tax credit can be reduced - at a rate of 39 per cent! Thats worrying.
    Do you mean the withdrawal rate? (only place I can see 39%) if so it was that for 2010 it's going up to 41% for 2011. Don't ask me what that mean's though???
    Booo!!!
  • mrsspendalot
    mrsspendalot Posts: 3,238 Forumite
    It is the rate at which they withdraw tax credits when your income is above the relevant threshold - so soon it will be reduced by 41p in every £1 rather than 39p in every £1
    Olympic Countdown Challenge #145 ~ DFW Nerd #389 ~ Debt Free Date: [STRIKE]December 2015[/STRIKE] September 2015

    :j BabySpendalot arrived 26/6/11 :j
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