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How Does Tax Credits Work!!!!!
SHEARERBOBS
Posts: 112 Forumite
hi
last year i earnt £6500, my hubbies self emp profit was £10,500. We apy out £552 in nursery fees and receive £540 per month in tax credits.
NOW read carefully
I have been offered a job at same money but would pay £380 in childcare. My hubby has gone cards in as from 6th april and earns £20000 pa.
BUT
What would they base our award on? I need to know if it's worthwile taking the job. I've tried the calculator but gives all sorts of answers :rotfl:
any help off you experts appreciated!!!!!!!!!!!!
last year i earnt £6500, my hubbies self emp profit was £10,500. We apy out £552 in nursery fees and receive £540 per month in tax credits.
NOW read carefully
I have been offered a job at same money but would pay £380 in childcare. My hubby has gone cards in as from 6th april and earns £20000 pa.
BUT
What would they base our award on? I need to know if it's worthwile taking the job. I've tried the calculator but gives all sorts of answers :rotfl:
any help off you experts appreciated!!!!!!!!!!!!
0
Comments
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anybody? please?0
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Your income would be based on , for this yr on £16500, next yr it would be based on the actual earnings for this year. (i.e. a yr behind).
You wouldn't receive less tax credit on the basis on income, but you would lose tax credits on the basis that you are paying less in chidlcare.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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