Tax credit renewal has come through and I'm worried

melbury

I do understand how people have become dependent on tax credits, but personally don't think they should have been introduced in the first place - they were a bribe from Labour:mad:

Of course now people have got so used to getting them that they don't want to lose them. However, if they have never been brought in, surely they would have carried on managing as all previous generations did.

I just hope that at the very least they will eventually be restricted to two children.

jacques_chirac

assj wrote: »

If my Tax Credits were to be cut I'd be in such a mess. I didn't ask for them, but when they were put on a plate I obviously took the offer.

They were not 'put on a plate', you chose to apply for them.

Shelldean

not sure I can explain this but will try...

If maximum CTC is say £55 per child with 3 children you would get £165 per week, this is then tapered due to the level of wages you receive. So you might only get £120 per week due to your wages.
But when a child stops qualifying, your total amount goes down by £55 and is then tapered due to your wages.

I had similar issues recently, I had 3 qualifying children and I assumed my CTC would reduce by 1/3, but it actually reduced by more. I was convinced it was wrong until someone explained.

Shelldean

My tax credit was £129 a week (3 children) so that works out at £43 per child. When my son stopped qualifying my CTC dropped by £54 per week.

SkyeKnight explains the tapering better in my thread

Gentile

melbury wrote: »

I do understand how people have become dependent on tax credits, but personally don't think they should have been introduced in the first place - they were a bribe from Labour:mad:

Of course now people have got so used to getting them that they don't want to lose them. However, if they have never been brought in, surely they would have carried on managing as all previous generations did.

I just hope that at the very least they will eventually be restricted to two children.

Quite true and a fact that many including me have tried to put across on this forum in the past. A decade ago there was no tax credits and everybody just managed. Then Labour hit upon a magnificient idea of creating a generation dependent on benefits, aka Entitlement Generation, and the idea was to empower this lot with enormous amounts of benefit money in the guise of credits so that it would appear as if the govt was rewarding the lowest paid for working.

The more the population got sucked into this the more they were dependent on this since the actual wages and the careers itself was going nowhere. Obviously the master plan worked, and this lot voted with their feet in every election and Labour was doing swimmingly good. Billions were borrowed every year even in really good times to just pay tax credits. Single mums raked in the equivalent of 70K PA by popping out kids and working 16 hours in a bar. Insane ! But as long as they voted Labour all was good in this world.

Housing_Benefit_Officer

Gentile wrote: »

Quite true and a fact that many including me have tried to put across on this forum in the past. A decade ago there was no tax credits and everybody just managed. Then Labour hit upon a magnificient idea of creating a generation dependent on benefits, aka Entitlement Generation, and the idea was to empower this lot with enormous amounts of benefit money in the guise of credits so that it would appear as if the govt was rewarding the lowest paid for working.

The more the population got sucked into this the more they were dependent on this since the actual wages and the careers itself was going nowhere. Obviously the master plan worked, and this lot voted with their feet in every election and Labour was doing swimmingly good. Billions were borrowed every year even in really good times to just pay tax credits. Single mums raked in the equivalent of 70K PA by popping out kids and working 16 hours in a bar. Insane ! But as long as they voted Labour all was good in this world.

...and a million foreign workers were imported reducing the wage bill but none of us noticed because out incomes were topped up by Tax Credits while the cost of living went up and up and up...

[Deleted User]

jacques_chirac wrote: »

They were not 'put on a plate', you chose to apply for them.

Yes of course I did, who wouldn't? We all want a little more, it's human nature for "most".

When I say put on a plate, I probably mean "made available".

I agree that Tax Credits were a bad idea, however now that I'm entitled to them - they are the best thing ever!

I'm one of the folk that's not entitled due to my level of income, however with a failed business and self employed losses I'm invited back to join the party :-)