Child tax credit query

silver--lining_2

Hello,

Apologies in advance if I miss anything out, this being my 1st post!

I have a query re CTC & Child benefit. Our family comprises of DH, DD & I. We are expecting baby number 2's arrival Feb 2012. I am a SAHM to my DD so no childcare payments & my DH works approx 38 hours a week. We currently recieve £81.20 child benefit 4 weekly & £46.40 4 weekly CTC for our DD. Last years tax year Apr 2010-Apr 2011 P60 figure was £28415.00. My DH thinks come Apr 2012, he would have a P60 figure of around £30000.00.

I never understand how the HMRC work out entitlement, to be honest I do take their word for it once I have submitted P60 figures. Could anyone advise me what changes to expect once baby number 2 arrives? Friends who have 2 children have mentioned the child benefit entitlement will increase to £134.00 (I think!) 4 weekly but I have no idea what our entitlement, if any, come Apr 2012 with 2 children will be for CTC.

Many thanks in advance if you have gotten this far & I hopefully any reply will clear the foggy brain I have at the minute

embob74

Child benefit for each additional child is £13.40 per week so if you add that to the £20 odd you get for the first child you will get your figure.
Not sure about child tax credits - I find HMRC are an enigma and pick numbers out of the air!

silver--lining_2

Thankyou for your quick reply!

I make that £33.70 per week for 2 children = £134.80 4 weekly. I have just read another post that recommended the turn2us website so just had a look at that which said £25.00 CTC per week for 2 children. Thats given me a rough figure so I have an idea what to expect the paperwork to say come the next renewal. The one thing I really never understand is the potential overpayment if the figure earnt is higher than the tax year before & the disregard.

Thankyou for being so helpful!

flutterby_lil

The HMRC tax credit website lets you put date of births for children (put todays perhaps for new baby so you can still work it out), childcare figures (although you said you have none), wages etc and will tell you for the tax year what you are likely to get. Remember it is a yearly figure they will give so work out how many weeks it is for and calculate it that way. For example if it say you are entitled to £5,622 from now until 5th April, work out how many weeks that is and divide the figure by that to give you a rough weekly amount). I did this and it is quite accurate. Remember to use figures you are likely to get paid then, ie husbands wage for next year not now.

Hope i have helped not confused you. It is a minefield.