Tax rebate for child tax credit, savings?

wakeyman

I have just found out that my wife and I are probably entitled to a tax rebate for child tax credit (I think that is it's official name) for 2001-2 and 2002-3 tax years.
I have checked with the tax office and it appears that we did not receive the credit at the time.

I have 2 questions-

1) Will having savings at the time affect wether we will get the rebate or not? I inherited about £17k in 2000ish.

2) Is the child tax credit of those 2 tax years a fixed amount or does it depend on how much tax we paid as I was a full time mature student at the time and my wife only paid approx £500 p.a. for those 2 tax years?

I would appreciate any help, thanks.

Murdina

The relief you are referring to reduces tax liability and is given in terms of tax. All of your income is taken into account and there is a limit of relief given of 10% on £5,200 for 2001/2 and £5,290 for 2002/3. if you were more than a basic rate taxpayer (which does not sound to be the case) would not get any relief - equally if you paid no tax then there would be no tax to relieve anyway. There were some complications about which of you claims so would suggest the one of you with the higher income in those years contacts their tax office. If you want to try and suss it all out then look at HMRC website specifically the manual on independent taxation reference pages IN1300 onwards. You have until 31/1/08 to claim for 2001/2.