Tax credit calculators for new budget 2016/17

nannytone_2

kittykat17 wrote: »

Hi, wonder if anyone can give me any idea of my tax credits for 2016/17? I am single, work 25 hours a week and get the disabled element for wtc (I know they haven't announced disability element rate for next year). I worked out that I would get £4,697 for the year but don't think this can be right! I wouldn't be losing anything!


I use my tax credits to pay for care for my father whilst I'm working. I can't work full time as Dad has doctor, hospital appointments, etc, which I have to take him to. I work nights so that I'm available during the day to care for him, etc.


Thanks for any help / info.


Su

does your father receive PIP/DLA/AA?
you shouldn't have to pay for care from your tax credits.
has he had an assessment from social services?

kittykat17

nannytone wrote: »

does your father receive PIP/DLA/AA?
you shouldn't have to pay for care from your tax credits.
has he had an assessment from social services?

Hi Nanny, yes he gets higher rate AA. Social services give him two and a half hours care a week - personal care plus extra help with his legs (ulcers which the nurses no longer come to dress). I can't get any other help for him without having to pay for it. When I asked about getting extra care when I'm working I was told it wasn't possible and did I have to work! So no help there!

WYSPECIAL

bridgend_girl wrote: »

Awesome. Don't flame me but it does seem that the incentive to pay into a pension is greater again. Every £1 I pay in going to get an additional 20p tax added and 48p added to my tax credit claim?
Seems too good to be true? Have I worked that out correctly.

Low mortgage, old car, no debts and frugal lifestyle so could afford it.

Is there a maximum amount you can pay into your pension and still get tax credits? Like you say it does seem to good to be true.

KimLouise17

Can someone help me work out our entitlement

Hubby works 37.5 hours a week and earns £15013 a year
i dont work

We have 5 children aged 9,8,6,4 and 7 months

Thanks

KimLouise17

blondebubbles wrote: »

£13,867 approx

a little less than i receive now but grateful for the help none the less.

what would i be able to earn without that changing?

NPowerUser

Does anyone know how much of an earnings disregard you get in the current tax year, when comparing 2015/2016 earnings with last year? How much can I earn extra this year compared to last, without causing an overpayment?

Is the earnings disregard changing 2016/2017 onwards, when comparing 2016/2017 with 2015/2016?

NPowerUser

bridgend_girl wrote: »

Awesome. Don't flame me but it does seem that the incentive to pay into a pension is greater again. Every £1 I pay in going to get an additional 20p tax added and 48p added to my tax credit claim?
Seems too good to be true? Have I worked that out correctly.

Low mortgage, old car, no debts and frugal lifestyle so could afford it.

My understanding, is that for every £1 contributed you get 25p added in tax relief, not 20p. The rest, I'm not sure.

Alice312

Blondebubbles me and my partner are expected to earn a combined amount of £27100 in 2016/17, which is quite a huge increase on 2015/16, am I right that our award will be based on £27100 minus £2500 because the increase is greater than £2500.

NPowerUser

Alice312 wrote: »

Blondebubbles me and my partner are expected to earn a combined amount of £27100 in 2016/17, which is quite a huge increase on 2015/16, am I right that our award will be based on £27100 minus £2500 because the increase is greater than £2500.

Not wishing to steal anyone's thunder and in the absence of a quick reply, I think that you can advise HMRC of an estimate of your income, if you think your income will be over £2500 more 2016/2017 versus actual 2015/2016.

I noticed that the income thresholds and taper amounts are also dropping considerably, £6420 down to £3850, which you might find of interest
http://www.litrg.org.uk/News/2015/090715_tax_credits_cuts

markharding557

It would not surprise me if these cuts turn into Camerons equivalent of Thatchers poll tax fiasco, few were concerned about that until the bills arrived and then the s@it hit the fan.
Not many properly understand what's coming, they soon will!