Confused? And very worried CTC

Marys_Dad

Popz wrote: »

Can someone explain this..
"However those who have been in receipt of tax credits or Universal Credit with an interruption of less than six months, will be protected."

My understanding of it is that it means those who have done nothing but swig supermarket smack and sire children for the last 20 years will have their current rates of CTC 'Grandfathered' into the new system and will only need to squeeze out another bipedal paycheck before April 2017 to be set for the next 18 years.

Meanwhile some poor sod on minimum wage, dragging bricks around a building site for 60 hours a week who is thinking about starting a family in a couple of years will not be able to feed and clothe his children properly.

TLDR; the Government is peeing on the next generation's back and telling them it's raining.

A_Flock_Of_Sheep

shegirl wrote: »

But that would be deprivation of capital? So you'd still end up with nothing

You will find the rules on Capital are very complicated....

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/419798/dmgch29.pdf

bloolagoon

A_Flock_Of_Sheep wrote: »

You will find the rules on Capital are very complicated....

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/419798/dmgch29.pdf

Why not just do it. Seems pointless from what you say working so hand your notice in on Monday.

A_Flock_Of_Sheep

bloolagoon wrote: »

Why not just do it. Seems pointless from what you say working so hand your notice in on Monday.

I do enjoy my job so I feel reluctant. But if it turns out I can't afford to keep it I will certainly have to consider resigning.

A bit like people now have to consider whether they can afford to have children. I, and no doubt others in my position now have to consider if they can afford to have a job. Great work achieved by the government.

bloolagoon

A_Flock_Of_Sheep wrote: »

I do enjoy my job so I feel reluctant. But if it turns out I can't afford to keep it I will certainly have to consider resigning.

A bit like people now have to consider whether they can afford to have children. I, and no doubt others in my position now have to consider if they can afford to have a job. Great work achieved by the government.

Just do it on Monday. You've listed enough that you are going to so do it. Life is better for you so I don't see why you wouldn't.

giddypenguin

SkyeKnight wrote: »

It's not absolutely clear how it is going to be implemented so different online calculators are predicting different amounts. The change in the threshold where tapering begins is a change to the WTC threshold but on here most people are assuming the threshold for CTC will change as well.

The general consensus is that everyone will lose around £1.2k for the change in threshold, and then an additional 7% for all income over about £6k (for the increase in taper rate from 41% to 48%). For an income of £44k that works out to about £3.9k.

Some online calculators are predicting much less than this, so this is kind of the worst case scenario.

Really sorry to hijack the thread, I'm trying to figure out how we'll be affected - we only get the childcare element (I think that's from WTC) not entitled to anything else -is it the same calculation, or does the above only apply to CTC?

giddypenguin

blondebubbles wrote: »

Although the childcare element is a part of WTC, it is paid through CTC.

If you are getting the childcare element, you must also be getting CTC.

Ah, yes, you are right, it is CTC, my apologies. None of this makes sense to me!