MSE News: Summer Budget 2015: Millions to face benefit cuts

SkyeKnight

blondebubbles wrote: »

The question was if CTC would be affected. I answered the question asked.

I know, which was why I said your answer was true, but most people just seem to refer to the whole lot as Child Tax Credits (me too) and I'm not even sure myself in which order Child, Working and Childcare TCs are tapered away.

It would be a shame if the person asking thought from your answer that they were going to lose no money at all when it is actually a huge proportion of their budget.

mel48rose

blondebubbles wrote: »

They do, I've based my calculation on an income of £15,000.

The maximum you would be entitled to for 2 children is £6105 (£117.40 per week).

Due to your income, they'd reduce it by £1380 (£26.54 per week)

Thanks for your kind help. Why are they making people feel like they would be better off not working? I don't understand it at all. It's gonna be a long four years I think.

rogerblack

mel48rose wrote: »

Thanks for your kind help. Why are they making people feel like they would be better off not working?

Because all right-thinking people know what government policy is 10 years in advance, and arrange their lives on this basis.

The careless feckless ones that can't see into the future deserve everything they get.

mel48rose

rogerblack wrote: »

Because all right-thinking people know what government policy is 10 years in advance, and arrange their lives on this basis.

The careless feckless ones that can't see into the future deserve everything they get.

What a pity we haven't all got pyschic powers then eh:T

zagfles

SkyeKnight wrote: »

I'm not even sure myself in which order Child, Working and Childcare TCs are tapered away.

WTC tapered first, then childcare WTC, then CTC.

GirlFromMars_2

mel48rose wrote: »

What a pity we haven't all got pyschic powers then eh:T

Usually they're passed down the generations alongside a hefty family trust fund.

gsdsian

I'm trying to work out how much approximately my working tax credits are likely to drop by.
I qualify for the disability element of WTC (because of health issues I can only work 16 hours a week).

2014 - 2015 I earned £6914 (down on the previous year by about £1000 because I had time off after surgery)
My tax credits for this year are £4731.14
I expect my income for 2015 - 2016 to be fairly similar to 2014 - 2015 because I managed to share my sick leave almost equally between 2 financial years!!!

I know my wtc will drop but can anyone work out how much by.

zagfles

gsdsian wrote: »

I'm trying to work out how much approximately my working tax credits are likely to drop by.
I qualify for the disability element of WTC (because of health issues I can only work 16 hours a week).

2014 - 2015 I earned £6914 (down on the previous year by about £1000 because I had time off after surgery)
My tax credits for this year are £4731.14
I expect my income for 2015 - 2016 to be fairly similar to 2014 - 2015 because I managed to share my sick leave almost equally between 2 financial years!!!

I know my wtc will drop but can anyone work out how much by.

Down by about £1260

gsdsian

That's what I was afraid of.

mel48rose

gsdsian wrote: »

That's what I was afraid of.

It all sucks really eh:(