Tax credit calculation guides

Nickynoo1

Hi,
Last year i'm sure i found somewhere on the gov web site a place where you could work out your own tax calculations. It gave examples and showed how your credits would decrease with the level of income received.

Do you think i can find it now?? of course not.

Does anyone know where i can find how tax credits are calculated?

Thanks

Nickynoo1

thebyp

i can't help you specifically, but have you tried this website?

http://www.entitledto.co.uk/

TheWaltons_3

Here you go.. hope this helps... you will have to scroll down to read all the information

http://www.hmrc.gov.uk/leaflets/wtc2.htm

TheWaltons_3

http://www.hmrc.gov.uk/leaflets/wtc2.htm#g


Here are some examples of earnings also.

HTH

Nickynoo1

Thaqnk you. Just what i was looking for. Well i got an approximate. Shame they dont update that leaflet for 2007/8. Earnings threshold was at £5200 ish, anyone know if that went up? And is excess income still calculated at 37%?

I just like to do the calc myself. dont trust what people tell me.

Thanks anyhow

Nickynoo1

carlos700

I have just been looking through some of the examples which THEWALTONS gave a link to for tax credits.There is a example which says Rashid & Yasmin they have three children there gross annual income in total is £25 360 yet they receive working tax credits.I thought you could only get working tax credits if your joint income was less than about £14000 ?