Tax credit calculators for new budget 2016/17

bloolagoon

Alice312 wrote: »

No. That's what we will have once we move to a smaller place, sell our car and he work 6 day weeks rather than 5.

All you can do is adapt and it isn't for long, pretty soon those babies are growing and you have more income, so any belt tightening won't be for long. You are young enough to get on the property ladder after they start school too.

FBaby

Alice312 wrote: »

No. That's what we will have once we move to a smaller place, sell our car and he work 6 day weeks rather than 5.

So when you take responsibility for your own earnings and adapt to ensure you still have a very nice disposable income at the end of the month that will allow you to enjoy some luxuries at least some months. Exactly what it should be like, rather than thinking that the above is not required because tax credits will make up the difference.

Do you believe that all people not eligible for tax credits have cars, bigger homes and get that level of disposable income with a young child? The ones that I know definitely don't.

merlin68

I'd love to have that amount of spare income. It's a huge amount. Trouble with tax credits is once the kids are 18 you loose the lot and have to adjust.
I've lost for 2 of mine now and loose the youngest in two years time

Housing_Benefit_Officer

It is great people will be having to rely on their earned income rather than state handouts. If more and more working people can be weaned off tax credits and made to live on their earned income and live within their means rather than the taxpayer subsidising their lifestyle this is great. The whole concept of tax credits in my opinion is wrong.

ffacoffipawb

Housing_Benefit_Officer wrote: »

It is great people will be having to rely on their earned income rather than state handouts. If more and more working people can be weaned off tax credits and made to live on their earned income and live within their means rather than the taxpayer subsidising their lifestyle this is great. The whole concept of tax credits in my opinion is wrong.

The cunning plan of a Labour regime to get itself a benefit dependent population in the hope of keeping in power and meddling in people's lives forever.

Fortunately the cunning plan failed in 2010.

paulgold1980

Hello everyone,

I am very sorry of this has been covered but I am really struggling to work things out.

I work full time and my wife works 16 hours per week. We earn around £26000 between us per year and rely on the child care element of CTC to make ends meet. My question is will we still qualify for this part of CTC under the new rules or will we lose it altogether?

I have tried a few calculators which all state we will lose everything even the childcare element. Is this correct?

Any help or advice will be much appreciated. Thank you all in advance

Paul

NYM

I don't think anyone that can help you is online at the moment. I'm sure that someone will be able to provide an answer but it might not be until tomorrow

paulgold1980

No problem NYM and thank you for replying

paulgold1980

Hi Blondebubbles,

Thank you or getting back to me. Sorry i realised i gave little info. So i have 2 children one is 3 and attends a mixture of school nursery and private nursery and a 5 year old who is at school but attends a wrap around club on Tuesdays. Our childcare works at £56 per week. No disabilities.

Thanks

Paul

paulgold1980

Thank you so much blondebubbles. You certainly know you stuff.