Tax Credits

BladeY_2

Hi all,

New here,

Need abit of help with Tax Credits.

Im looking to move in with my partner at the end of the month.

But I'm abit worried how much tax credits we will get or how it works.

From April 2012-April-2013 I'd say my earnings will be £18500
This is largely due to someone left the company i work for and i done alot of shifts to cover.

My salary is £15,650. Anyways we've been told now theres not gonna be any overtime this year. So my earnings for 2013-2014 will be £15,650

So what will tax credits take this into account?

Many thanks for any help given.

shedboy94

Your Tax Credits for 13-14 would be based on an inc of £18150, as the 1st £2500 of a decrease in income would be disregarded

Horseunderwater

Are you the only income provider? You did not say if your OH to be works or not.
Are there children? If yes then you may get a little Work tax credit at years end and possibly some Child tax credits in the year itself. If no kids then WTC may apply if you meet the eligibilty criterior.

zagfles

Your partner's income would be counted too when you move in together. You would need to close your single claim and start a new joint one.

BladeY_2

Just to explain abit more.

My partner does not work. so it will just be my wage.

We have 1 kid.

I don't really understand the decrease over £2.5k as stated on the website.

Really what im trying to ask is. Will my tax credits go off last years earnings even tho i won't that this year? As it will be pretty hard to go 12 months because i earned more last year.

Sorry for being a newbie with this. Just would like to collect all the info.

zagfles

BladeY wrote: »

Just to explain abit more.

My partner does not work. so it will just be my wage.

We have 1 kid.

I don't really understand the decrease over £2.5k as stated on the website.

Really what im trying to ask is. Will my tax credits go off last years earnings even tho i won't that this year? As it will be pretty hard to go 12 months because i earned more last year.

Sorry for being a newbie with this. Just would like to collect all the info.

If your partner has no income next year then as per Shedboy's post tax credits will use an income of £18150.

But you will still need to close your single claim and open a joint one.