£42000 income new limit for tax credits?

MoneySavingMission

i received a letter from HMRC today to say that new limit for tax credits is £42,000.
I thought this this was an individual earnings limit so would still have qualified. Is this 42K a combined earnings amount?
Please advise if you are aware.

nannytone_2

it's household income not individual income.

zagfles

This is not an income limit. The letter probably says for most people, but large families, ones with disabilities and ones with high childcare costs could still get tax credits on higher incomes.

bluenose1

got the same letter today, hadn't realised I would be losing tax credits.:mad:

newdawnfades

Got the same letter. I must have completely missed this announcement and it could not have come at a worse time.

What are the changes that have taken place exactly? Anybody point me to an idiot's guide? Thanks

kingfisherblue

I think some people may have mixed up the individual earnings (new limit for child benefit) and household earnings (new limits for child tax credits). For CB, both parents can earn upto about £43,000 and still receive it. For CTC, the combined income means that a family cannot claim (or can claim less) if their eaarnings are around the £40,000 mark.

I'm not certain of the exact figures, so it's worth people checking for their own circumstances.

bigbill

newdawnfades wrote: »

Got the same letter. I must have completely missed this announcement and it could not have come at a worse time.

What are the changes that have taken place exactly? Anybody point me to an idiot's guide? Thanks

4 idiots guides here

http://www.welfarerights.net/welfare-rights-news.php

sarflee

And remember they include "benefits in kind" as income. My partner has car benefit for tax purposes worth £6000pa, so this is added to our earned income. This takes us just over the £42k but actual earnings are £36k. We were aware it was stopping for us so not a surprise.

KimYeovil

MoneySavingMission wrote: »

I thought this this was an individual earnings limit so would still have qualified.

Do you seriously believe couples with an income of £83K should receive tax credits? :rotfl:

milliebear00001

KimYeovil wrote: »

Do you seriously believe couples with an income of £83K should receive tax credits? :rotfl:

Why not? They would qualify for Child Benefit.

kimmy112

to be honest the lucky ones that earn that amount of money do not need tax credits and child benefit.