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Tax credits, is this true?

Jessikita1983
Posts: 235 Forumite
I am currently trying for a baby with my Husband.
I earn £29236 per annum, he earns £7000 (self employed)
Was planning on getting £20.30 a week child benefit and £545 a year in tax credits.
No childcare costs as husband can have baby at the shop.
Just heard a rumour that tax credits are now going if you earn over £25k, have no childcare costs and only have one child?
Can someone from a reliable source confirm or deny?
I am in no desperate need for the £545 a year, I just find it frustrating that after working and contributing since I was 13 years old, and never claiming a benefit in my life, I have paid for every body else to get everything. And now yet again when it's my time to claim they will get rid!
grrrrrrrrrrrrrr!
I earn £29236 per annum, he earns £7000 (self employed)
Was planning on getting £20.30 a week child benefit and £545 a year in tax credits.
No childcare costs as husband can have baby at the shop.
Just heard a rumour that tax credits are now going if you earn over £25k, have no childcare costs and only have one child?
Can someone from a reliable source confirm or deny?
I am in no desperate need for the £545 a year, I just find it frustrating that after working and contributing since I was 13 years old, and never claiming a benefit in my life, I have paid for every body else to get everything. And now yet again when it's my time to claim they will get rid!
grrrrrrrrrrrrrr!
0
Comments
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£37k a year between you and nothing to show for it? Perhaps some money management advice would be an option. You might find it worth far more than £545 a year.0
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Wee_Willy_Harris wrote: »£37k a year between you and nothing to show for it? Perhaps some money management advice would be an option. You might find it worth far more than £545 a year.
Nothing to show for it??? What gave you that impression?0 -
Jessikita1983 wrote: »Nothing to show for it??? What gave you that impression?
Your OP. Seemed to be saying that all you had done was spend your money on others. Implies you have nothing to show for it.0 -
If you would like to view my other thread https://forums.moneysavingexpert.com/discussion/3523785 you will see I only request small bits of advice on how to save a tiny bit more! I am one of the most money savvy people I know!
I was merely asking for clarification of whether or not the tax credits system was changing. I am unsure of where you got the impression that I have nothing to show for it and need advice, considering other than mortgage I owe no one a penny!!!0 -
Wee_Willy_Harris wrote: »Your OP. Seemed to be saying that all you had done was spend your money on others. Implies you have nothing to show for it.
It seems to go to everyone else, then when it finally seems my "turn" they change the boundaries and I end up with nothing!
Any idea if this is true about tax credits?0 -
Jessikita1983 wrote: »I am currently trying for a baby with my Husband.
I earn £29236 per annum, he earns £7000 (self employed)
Was planning on getting £20.30 a week child benefit and £545 a year in tax credits.
No childcare costs as husband can have baby at the shop.
Just heard a rumour that tax credits are now going if you earn over £25k, have no childcare costs and only have one child?
Can someone from a reliable source confirm or deny?
I am in no desperate need for the £545 a year, I just find it frustrating that after working and contributing since I was 13 years old, and never claiming a benefit in my life, I have paid for every body else to get everything. And now yet again when it's my time to claim they will get rid!
grrrrrrrrrrrrrr!
How could you even WANt child tax credits earning £37,000 a year. I only just started earning £12,000 a year and consider myself very lucky, although I am only 19.
I think as others have suggested you really need to learn how to manage your money0 -
Wee_Willy_Harris wrote: »Your OP. Seemed to be saying that all you had done was spend your money on others. Implies you have nothing to show for it.
Well, there you go. Unlike those less fortunate than yourself, you have the security of home ownership and the comfort that you will be able to pass it on to your child(ren) who, when they arrive, will make use of the education and health system you have so honourably paid into. Not such a waste of money after all.0 -
i save £10k of my £20k salary per year, id love £37kTarget Savings by end 2009: 20,000
current savings: 20,500 (target hit yippee!)
Debts: 8000 (student loan so doesnt count)
new target savings by Feb 2010: 30,0000 -
BrettMorganxD wrote: »How could you even WANt child tax credits earning £37,000 a year. I only just started earning £12,000 a year and consider myself very lucky, although I am only 19.
I think as others have suggested you really need to learn how to manage your money
I DO NOT NEED MONEY MANAGEMENT ADVICE!!!! http://forums.moneysavingexpert.com/...785&highlight=
I do very well indeed managing my money. Every penny I earn.
as you can see I say I do not need the £545, but maybe when you have been working since you were 13, full time since you were 16 and you have constantly paid tax etc, and in the last few years seen everyone else on your salary get tax credits since they were introduced, and you finally get your chance to claim and they then yet again you hear they may change the boundaries you are going to wonder if this is true or not!0 -
Jessikita1983 wrote: »It seems to go to everyone else, then when it finally seems my "turn" they change the boundaries and I end up with nothing!
Any idea if this is true about tax credits?
The UC bill is still working it's way through both houses (with the Lords now, I understand). Until that is complete, nothing is concrete. But I do believe that the notion of a family earning a substantial wage receiving means tested benefits is one part of their cost saving ambition, yes.
The people who SHOULD be bitter are those with no children on a very modest wage. I'm sure they must wonder why THEY should pay YOU to breed? Maybe their prayers will be answered.0
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