Tax Credit Changes 2012

jakesmummy05

Does anyone know of the changes proposed to tax credits from April 2012? We have a joint income of £28000 for this yr and 3 children all at home no childcare to pay. A work mate said ours will drastically be cut (she read it in a paper apparently!) as we earn over £26000.

Thanks in advance

MrsManda

There's a brief guide on direct.gov.uk.
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/DG_194914

Your friend may be referring to this:

From 6 April 2012, the income limit for you will depend on your own situation. But as a very rough guide, you might not be able to get Child Tax Credit from 6 April 2012 if:

• you have one child, and your annual income is more than around £26,000
• you have two children, and your annual income is more than around £32,200

(from the link above)

There are examples here: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/DG_194917

zagfles

jakesmummy05 wrote: »

Does anyone know of the changes proposed to tax credits from April 2012? We have a joint income of £28000 for this yr and 3 children all at home no childcare to pay. A work mate said ours will drastically be cut (she read it in a paper apparently!) as we earn over £26000.

Thanks in advance

Your workmate was talking rubbish. Your tax credits are likely to go up next year, not down, assuming no change in your circumstances. There's been a lot of hugely biased reporting of the changes to tax credits in the gutter press...