Cant get any sense out of inland rev

storm35 · 8 April 2013 at 3:11PM

Can anyone on here help, i would like to know how much you need to earn before your tax credits are affected.
I work 25 hours per week i have 2 children under 16, my partner works 30 hours per week and its a joint claim, we are in Scotland, so will we loose some of our child tax credits?

Thank you xxxxxxxxxxxxxxxxxxxxx

Horseunderwater · 8 April 2013 at 3:37PM

What is the joint gross income for both of you for the past year. Last wage slips will do to find that out. Add that up and post. How old are you both? Once the extra bit is known you will get a proper reply.

Icequeen99 · 8 April 2013 at 4:27PM

storm35 wrote: »

Can anyone on here help, i would like to know how much you need to earn before your tax credits are affected.
I work 25 hours per week i have 2 children under 16, my partner works 30 hours per week and its a joint claim, we are in Scotland, so will we loose some of our child tax credits?

Thank you xxxxxxxxxxxxxxxxxxxxx

Your tax credits reduce 41p for each £ of income over £6,420.

So if you earn more than £6,420 your tax credits will be affected.

IQ

storm35 · 8 April 2013 at 5:23PM

I am 44 and partner is 40, he earns 16 grand and i have just started a new job £6 per hour, 25 hours per week?

storm35 · 8 April 2013 at 5:24PM

Icequeen99 wrote: »

Your tax credits reduce 41p for each £ of income over £6,420.

So if you earn more than £6,420 your tax credits will be affected.

IQ

So if i earn over £6,420 not my partner just me, then i lose 41p per £??

Icequeen99 · 8 April 2013 at 5:26PM

storm35 wrote: »

So if i earn over £6,420 not my partner just me, then i lose 41p per £??

No the 6,420 applies to joint income.

If you had tax credits based on your partner's 16,000 and you start working then for every £1 you earn you will lose 41p in tax credits as a rule.

However there is a disregard of £5000 for income rises so it probably won't impact on your tax credits until next year.

IQ