Tax credits stopping in April 2012

zagfles

eadieb wrote: »

Its hard to work it all out. It looked like the thresholds being lowered was going to affect us and reduce what we get but then again it is maths which is not my strong point but I was trying to do the paper calculation which is quite hard work. We are going into the 32,000 level on our income but with 4 dependent children. This 11/12 year we lost all out entitlement to child care costs.

If you have 4 children the thresholds haven't changed at all. In fact they'll have gone up a bit because the CTC child element has gone up. Your tax credits shouldn't reduce unless one of the other things applies to you eg the 24 hour or 50+ (or of course if your income has gone up since 2010/11 - but that's nothing to do with these changes)

leenlinz31

If you actually go on the hmrc website, click on the tax credit link then you will see a link on the left telling you about the letter and for further information regarding it click the link which takes you to an option for budget changes and how they may affect you. This shows that there are quite a few changes not just the working hours and basic element!!!! Also the letter does say to call hmrc to check all your details are correct. These letters would not be sent out unless your records (which you are supposed to keep up to date) held by hmrc hold information to show you will no longer be entitled!! The website also has examples of each change to explain it a bit better and also shows all the thresholds and income limits as well as maximum amount of childcare cost you can claim for and they can help contribute UPTO a maximum of 70% towards childcare costs.

As for which year is used to work out your payments, which ever is the lowest between the previous tax years actual income figure and the current tax years estimated income figure unless there is a difference of 10k or more in which case the income disregard is added to the lower year. When you phone up have your estimated income for 11/12 and 12/13 and child care costs if any and ask for a calculation as the entitlement calculator has now been updated so they can provide you with an estimate for next tax year!!!!

silv.surfer

The real losers on the WTC cuts are single over 50's that have recently managed to get a Part-time Job - many Interviews no Jobs too Old - the only ones left are 18 Plus hours and cant add hours and now that is stopped - in most cases HB and CTB isnt enough to allow paying Water/TV Licence/Electric and Eat - and they come from the Generation that didnt have kids all over the place if couldnt afford them. There is no other help available for over 50's unless someone knows different - they dont want Loans that have to pay back.
What an Incentive for over 50's to get back to work if it can be found - Cant leave the Job - cant get JSA etc for 6 months - How are they supposed to survive for 6 months with no money and will lose a flat. :mad:

When I married in 1960 I also worked and the first year we got Vacuam Cleaner - second year Washing Machine - third year planned 1st kid and 3 years later 2nd kid Thats all - Total kids time not working 4 years - then I got 2 part-time untill I got Full-time My son at 46 now has never had a Credit Card and I havent even now as a Pensioner - If I havent got the money I dont buy it -I wait to save up.

zagfles

Well it's made MSE news at last!

http://www.moneysavingexpert.com/news/reclaim/2012/03/wrong-benefits-letters-sent-to-1m-by-hmrc?utm_source=forum&utm_medium=sidebar&utm_campaign=box

kaya64

the purpose of this forum is to give advice not judge others and everyone have different circumstances , if the benefits are there to claimed then people should claim them and should not be questioned why they are claiming them or why they chose to have children . i feel for the original poster of the thread because he was questioned and slated for claiming wtc and cc , as i said the benefits are there and why shouldn't he claim them ?

csei52ks

Hello newbie here so hopin im doin this right!!! lol

I work part time 20 hrs per week and OH works full time, we pay an average of £137 per week in childcare and we currently get 96.84 per week in tax credits, based on 2010-2011 income of just under £33,000. By the end of this tax year i will have earned about £10,000 and other half will have earned about £26,500.So joint income around the £36,500 mark. We will still be paying childcare of the same amount, until September when eldest starts school, but i will still require after school and holiday care, so will still be paying out for childcare.

I just wondered with the all the changes in the tax credits thresholds whether we will still be entitled to anything???? I need to call the tax credit people as i have only just realised that other half will have earned 3k more than last year, and will ask them if they have any idea of our entitlement next tax year, but any advice would be gratefully received. thanks

Upsydaisyoh

Hi All, hope someone can offer some advice. My husband left me last week. We currently do not claim tax credits as our joint income was over 42k. However now he has left I will have to start claiming to make ends meet each month. I have 2 children aged 7 & 3. I claim disability living allowance at the middle rate for my eldest daughter. I work 22.5 hours per week and earn £1276.40 before tax each month (£15316.80 annually).
Do the changes in the budget from 16 to 24 hours mean that I would have to increase my working hours to 24 hours per week to be able to claim tax credits?

Poetmart

Changing tax credits from 16 hours to 24 is evil, with no jobs about how can anyone live. The rich have it all now.
Does anyone not see that? Why is their not any public demos in London? Is everyone in this country millionaires?

shedboy94

Upsydaisyoh wrote: »

Hi All, hope someone can offer some advice. My husband left me last week. We currently do not claim tax credits as our joint income was over 42k. However now he has left I will have to start claiming to make ends meet each month. I have 2 children aged 7 & 3. I claim disability living allowance at the middle rate for my eldest daughter. I work 22.5 hours per week and earn £1276.40 before tax each month (£15316.80 annually).
Do the changes in the budget from 16 to 24 hours mean that I would have to increase my working hours to 24 hours per week to be able to claim tax credits?

No offense, but have you actually read any of the posts.......the new rules have been repeated many times over. Clearly you also have internet access so you would be able to search the answer elsewhere.........I may be wrong but I thought the purpose of the forums is to ask questions you have difficulty finding answers to, or for things you wish to discuss, not for repeating questions that have been answered before.

shedboy94

Poetmart wrote: »

Changing tax credits from 16 hours to 24 is evil, with no jobs about how can anyone live. The rich have it all now.
Does anyone not see that? Why is their not any public demos in London? Is everyone in this country millionaires?

It's hardly evil.......I don't think it is unreasonable for those families who have decided for however long to work the bare min of 16hpw BETWEEN them to have to actually start working and start supporting their own families a bit more instead of relying on the taxpayers of this country.
Not everyone is millionaires, but the vast majority of responsible adults who decide to have children decide to because they can afford to do so.