Child tax credit limit reduced to £26,000

zagfles

bramblejam wrote: »

The letter's badly written

It's not badly written, it is quite simply wrong. They are telling people with more than one child that their income limit for CTC is £26,000.

but a quick look online comes up with this:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/DG_194914
which is clearer.

Yes, the online information on direct.gov and the HMRC site is correct. The information in the letter is wrong.

I think what stick in the craw is the wailing and gnashing of teeth when this affected higher rate taxpayers (journalists etc) but there's been nothing in the press about this.

There will be, believe me!

zagfles

Deleted_User wrote: »

Nobody gets 4k a month for childcare tax credits! The m!ximum is £300 per week.

I worked out the £56k limit based on £200pw childcare, with 3 kids.

MissMoneypenny

Deleted_User wrote: »

Nobody gets 4k a month for childcare tax credits! The m!ximum is £300 per week.

Better, but that is still £15,600 that the welfare state pays in childcare alone to each of these families.:eek:

Murgatroyd21

Deleted_User wrote: »

Nobody gets 4k a month for childcare tax credits! The m!ximum is £300 per week.

Actually, only £300pw where 2 or more children are in childcare is taken in to account. The maximum you can get is 70% of £300 = £210pw. The amount you actually get is dependant on your household income.

Standingtall

I expect my letter will arrive soon.

I have lost a second income in the last two years, so down £500 a month. My ex husband lost his job so I have lost £200 a month maintenance. My bills, naturally, have all gone up; particularly petrol for my 30 mile round trip to work and energy bills.

Now the Government are taking £42 a month off me. Maybe morally it is right that I do not get help but crikey me, could they not even have done it on a gradual basis instead of all at once.

Maybe they should give prison inmates a few less luxuries instead!

I am a single parent and so many people assume I am awash with benefits. You must be joking! I will only get child benefit from April and this is fine, I will learn to live without the £42. I would not mind half as much though, if so much of my hard earned money taken for taxes was not squandered:mad:

zagfles

MissMoneypenny wrote: »

Better, but that is still £15,600 that the welfare state pays in childcare alone to each of these families.:eek:

They get 70% of the cost so it's £10920 max, and that amount is then subject to the income taper.

Murgatroyd21

MissMoneypenny wrote: »

Better, but that is still £15,600 that the welfare state pays in childcare alone to each of these families.:eek:

No, it would only ever be a maximum of £10920. They would have to be receiving income less then £6420 pa to get the top award of £210pw, which would leave them having to pay a balance of £90 pw for childcare. At £6420pa, they might struggle as it would mean a gross weekly income of around £123, take away childcare leaves approximately £33 gross!

MissMoneypenny

zagfles wrote: »

They get 70% of the cost so it's £10920 max, and that amount is then subject to the income taper.

A couple earning 56k between them, wouldn't even pay £10,920 in income tax!

stressedofthecentury

Sorry to bump but also on the hmrc it says something about the 50 plus element changing as well, Thought I would point it out to people.

Murgatroyd21

stressedofthecentury wrote: »

Sorry to bump but also on the hmrc it says something about the 50 plus element changing as well, Thought I would point it out to people.

Yes, it ends as of 05/04/2012, so even if you just started entitlement through this, your award will end if you don't meet any other qualifying criteria.