My sister is so worried about tax credits in April '12

zagfles

smk77 wrote: »

I appreciate the tapering. I was thinking that the disability element forms part of the current £40k threshold rather than the £15,860! My mistake!

Ah right, I see what you mean. Yes it's only the family element that is retained till £40k at the moment.

Where the tapering does feel like a cliff-edge is for example, a joint income of exactly £40k and then a pay rise is awarded of £1,300. There is then the tax, NI plus the family element (£960) to come off! Ouch!

Yes, but it's the same for people on lower incomes, in the main taper eg someone on £10k. They'd also lose £960 of a £1300 rise. Basically a 73% tax.

monkeyme24

zagfles wrote: »

Yes they will be entitled.

do you know how much please ?

zagfles

monkeyme24 wrote: »

do you know how much please ?

How many children?

I presume you meant 2011/12 income £26k and 2012/13 income approx £30k.

zagfles

gillianread wrote: »

The income limit for Child Tax Credit is going down
Child Tax Credit payments depend on your circumstances and income.
At the moment, you can usually get some Child Tax Credit, as long as your income is not over the limit of £41,300. From 6 April 2012, this limit will be lower for most people.
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

Those are limits for "most people". They are when the elements taper to zero, they aren't a "cut off".

Some people now can get tax credits on much higher incomes than £41k in some circustances, eg anyone with more than 3 kids, or high childcare.

Someone with 10 disabled kids and childcare could get tax credits on a £200,000 income. There is no cut-off.

Murgatroyd21

zagfles wrote: »

Those are limits for "most people". They are when the elements taper to zero, they aren't a "cut off".

Some people now can get tax credits on much higher incomes than £41k in some circustances, eg anyone with more than 3 kids, or high childcare.

Someone with 10 disabled kids and childcare could get tax credits on a £200,000 income. There is no cut-off.

Single parent, 30 hours, DLA (HCC), income £200,000, 10 kids with DLA (HCC), CCC min £300pw = £14pw!!!

monkeyme24

zagfles wrote: »

How many children?

I presume you meant 2011/12 income £26k and 2012/13 income approx £30k.

ooh yes i did mean that sorry was getting confused .. and 1 child.. many thanks

zagfles

monkeyme24 wrote: »

ooh yes i did mean that sorry was getting confused .. and 1 child.. many thanks

They'll get about £67pw next year. It'll drop in April 2013 to about £35pw if they earn £30k in 2012/13.

gillianread

gillianread wrote: »

The income limit for Child Tax Credit is going down
Child Tax Credit payments depend on your circumstances and income.
At the moment, you can usually get some Child Tax Credit, as long as your income is not over the limit of £41,300. From 6 April 2012, this limit will be lower for most people.
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

childcare vouchers is to do with working tax credits, i'm not talking about that , i'm talking about normal child tax credits for all the ppl that have had a letter , if u got 2 or more kids the rates are higher than what the letter states

monkeyme24

zagfles wrote: »

They'll get about £67pw next year. It'll drop in April 2013 to about £35pw if they earn £30k in 2012/13.

Many thanks .. my tax credits are £94 per week at the minute will these change as of april as myy friends has gone down some what .....This Year 2011/12 we have a joint income of £19,400 with one child, with childcare costs of £66.00 a week.

Our estimated income for 2012/13 will be approx £22,200 He works full time 38 hours per week and i work 16 hours a week.

am hoping it will roughly stay the same .. be great if you could help

kay126

Can anyone help me please,
2011/12 joint income was 19.5k, we have 1 child and work 38 and 20 hours.
We have no childcare costs.
We currently get no WTC and recieve 48pound pw.

2012/2013 joint income predicted to remain the same, still with no childcare costs. Will our figures be changing at all if our situation remains the same as last tax year?