CTC question

CLB

Hi

I am new to CTC and i am a little confused. We have recieved our renewal figure based on an estimated income i have given them for this year 2012/2013. The award we have been given seems to be £75 less a month compared to the figure i get from the HMRC calculator workings.

Do they do some calculcation based on last years income and the estimated income??

My partner is cutting down his hours at work from 40 to 18 hours to look after our twins, so there is a big difference in what our joint salaries will be this year compared to last year.

Thanks in advance for any replies or info you could give.

Icequeen99

No, it either uses previous or current estimate. How many children have you got and what figures did you use for 11/12 and 12/13?

Did you take into account the £2,500 disregard when you entered your 12/13 figure into the HMRC calculator?


IQ

karenx

Are you working more than 24 hours between you also?

Allrico

I did the calculation on line back six weeks ago before making my claim as I'm currently a foster carer I earn £141 per week as I'm currently down to a single child. The online calculation as a single person with one sole dependent it calculated that I would receive £139 part working tax and child tax! I received my award today and I've only been awarded £84... Can someone help me please

CLB

Thanks for your replies.

Our 11/12 figure would be joint income of 37000. Our 12/13 figure will be estimated 27000 with my partner working 18 hours and me working 40 hours. We have two children.


When i worked it out on the calulator it said we should be entitled to 1300 (roughly) but we have been awarded 309.72. I just think this is a big difference? and wasnt sure how they worked it all out or if maybe they have made a mistake? They have all the details right on the estimated award we recieved. Could it be the 2500 disregard?

thanks again for all info.

Icequeen99

CLB wrote: »

Thanks for your replies.

Our 11/12 figure would be joint income of 37000. Our 12/13 figure will be estimated 27000 with my partner working 18 hours and me working 40 hours. We have two children.


When i worked it out on the calulator it said we should be entitled to 1300 (roughly) but we have been awarded 309.72. I just think this is a big difference? and wasnt sure how they worked it all out or if maybe they have made a mistake? They have all the details right on the estimated award we recieved. Could it be the 2500 disregard?

thanks again for all info.

Run the calculator again on the HMRC site, but you need to enter 29500 as your estimated income to take into account the 2500 disregard. Also, don't forget the calculator only tells you the amount between today and the end of the year.

Is the £1300 an annual figure? I make it roughly 1147 for the year whereas without the disregard you would get 2147.

IQ

Icequeen99

Allrico wrote: »

I did the calculation on line back six weeks ago before making my claim as I'm currently a foster carer I earn £141 per week as I'm currently down to a single child. The online calculation as a single person with one sole dependent it calculated that I would receive £139 part working tax and child tax! I received my award today and I've only been awarded £84... Can someone help me please

Are you claiming child tax credit for your own children or the foster child?

What income have you declared for tax credits? Your income from foster caring is likely to be declared as Nil. Do you have any other income?

IQ