tax credits am i entitled?

vickynleon

currently i don't recieve any benefits as the £10 a week tax credits i was recieving stopped when the rules changed in april.

i currently have one son who is 4 and i have my second son due 3rd august so i have recently started maternity leave.
this year's income for myself will be a few thousand pound less than 2011/2012 so how does tax credits work in this case? i have been on a few calculators and some ask what i am likely to earn this year and others asked what i earned in previous years.

sorry to sound so dull its just i got 5 weeks before my baby is due and would rather have an idea as to what i will be loosing or wether i will be staying the same.

thanks in advance
:beer:

mildred1978

vickynleon wrote: »

currently i don't recieve any benefits as the £10 a week tax credits i was recieving stopped when the rules changed in april.

i currently have one son who is 4 and i have my second son due 3rd august so i have recently started maternity leave.
this year's income for myself will be a few thousand pound less than 2011/2012 so how does tax credits work in this case? i have been on a few calculators and some ask what i am likely to earn this year and others asked what i earned in previous years.

sorry to sound so dull its just i got 5 weeks before my baby is due and would rather have an idea as to what i will be loosing or wether i will be staying the same.

thanks in advance
:beer:

What's your partner's income?

vickynleon

my partner earned £20521 2011/2012 and i earned approx £10200 (cant find my p60)

Horseunderwater

If you cannot find the P60, look at last payslip for that tax year. That will give relevant amount of gross pay. Have you renewed claim, you can still renew, but not receive anything until the new born arrives. Once they are here, then you will be able to claim for 2 children and the income limit is approx £32k, so if this years earnings will be less than that - you should be able to calculate your pay inc mat pay etc along with OH salary - assuming he gets set amount every month. They can work CTC based on current year estimates. That is what I am in the middle of doing at the moment, albeit for different reasons.

vickynleon

ok thanks, yes he does get a set amount so its easy to work out what he will have, occassionally he does work overtime but not as much as he did a few years ago which was a nightmare. so the tax credits would be based on what i will earn this year because otherwise i think we will only be entitled to £10 a week if anything? sorry i just don't get this tax credits business lol,

princessdon

Don't forget you deduct £100pw for mat leave when calculating your wage for tax credits.

vickynleon

princessdon wrote: »

Don't forget you deduct £100pw for mat leave when calculating your wage for tax credits.

i thought that only worked if it was maternity allowance not statutory maternity pay?

princessdon

Oh - I may be wrong - my limited understanding is it reduced either way - worth investigating or maybe those knowledgeable can comment. Sorry on my phone so can't search ATM.

vickynleon

omg this is so confusing lol i keep reading different things on different sites so don't really have a clue, i remember with my first son i was in college and working part time so i was claiming maternity allowance because i wasnt able to claim from my work and i could deduct £100 a week from that when working out my income but for some reason i think its different with statutory maternity pay. think i may give hmrc a ring 2mo because i need to do my annual review anyway so hopefully they will be able to help me out, would rather get the form part filled now before i have my son because the sleepless nights will not help my mind when filling in forms lol

allen35

princessdon wrote: »

Don't forget you deduct £100pw for mat leave when calculating your wage for tax credits.

This is right, get your calculator out and start adding up/taking away, take £100 per week off your income for 12/13 tax year whilst on SMP for the length of time you will be off work.

Telephone tax credits with your estimate of this years income and ask for this total to be used, there is a £2500 disregard on reduced income, for example total income 11/12 £25000, estimated income 12/13 £20000, HMRC will use £22500 to calculate your revised award.

Inform them once the baby is due of a COC.

vickynleon

omg i'm getting more and more confused haha baby brain is certainly kicking in :P so if i have 10 weeks of full pay and then 29 weeks at £135.45 i would only work out 10 weeks full pay and then £35.45 x 29 weeks? plus obviously what i have earned either side of my maternity leave.