Tax credit calculators for new budget 2016/17

stanfranks

I have looked at the table within the link, but cant find my circumstances there.
We are a couple where one works 30hrs the other is retired at 63 (no children).
Currently have tax credits based on total income 14761 for 2014/15 at 26.66 per week.
Estimate of income for this year is 16200.
Not sure what if any a reduction would be or if any need to be paid back due to the higher income.
Need help with the figures.
.

stanfranks

It looks like the loss is higher than the current award.
I suppose this means WTC nets down to nil.
Would we need to payback some WTC due to income being higher than 2014/15 ie being classed as an overpayment.

msaquib

Hi,

I need some adv for 2016 Tax credit entitlement.

I am working full time and my partner is housewife. We have 2 children's - one has recently been awarded DLA (high care component & lower mobility). I have not notified Tax credits of this yet.

My income for 2014/15 was 22k

My income for 2015/16 estimating 24k + my partner will be applying for carers allowance - DLA started from 23/09 so CA should be backdated to 23/09. Based on this CA upto 05/04/16 will be £1676. So total income for 2015/16 will be £25676.

I need to know once I have notified Tax credits of childs DLA how much CTC increase by?

From Apr 2016 what will be new entitlement?

Thanks
MS

msaquib

blondebubbles wrote: »

Payments would change to around £175 per week however that's only a very rough estimation as it will depend on exactly how much you've already been paid, when you notify the change etc.

You'll need to call within 30days of the DLA being awarded for it to backdated.

As for 2016/17, it would depend on what you think your income would be that year.

Hi, Thanks for replying back.

I just checked my Tax credit award and income I stated previously is incorrect. For 2014/15 Total income was £23595.

Tax Credits is normally based last years income so if my income is £25476 in 2015/16 - What will be my entitlement for 2016/17 year?

Can you also provide me how you calculated these figures.

Thanks - much appreciated.

scotty1971

Hoping someone could possibly what my award would be.

both of us work me 37 hours,partner 16,income £29000,3 children one child recieves the disabilty element.not higher rate.

thanks
scott

msaquib

blondebubbles,

Hopefully I have done this right:-

Basic WTC 1960
Couple Element 2010
30 Hour 810
Child x2 5560
Family 545
Disabled Child Element 3140
Severely Disabled Child 1275

Total £15300

Disabled child elements I went by 2015/16 rates. I cannot find anything for 16/17.

(25476-3850)x48% 10380.48

Entitlement £4919.52

The child in receipt of higher rate care component so I am right in saying we will be eligible for Severely disabled child element?

Likely my income will stay the same. Care Allowance for full 12 months will be £3229.20. The difference will be less than 2.5k disregard. The change will not take effect until Apr 2017.

Are my calculations right?

Thanks

bloolagoon

bloolagoon wrote: »

We used to be able to nominate helper of the month. I have asked where we do this because you so deserve recognition for your help. It appears they are not doing this

It is now back and I have nominated as can others

https://forums.moneysavingexpert.com/discussion/5335947

india

morning,

Can someone advise me how much I'm likely to lose please.

I'm a single mother, my salary rised in May 2015 to £18,775
When I started a new job.
I work 28 hours a week term time only.
I have 2 children and one is disabled.
Last year I did the same hours but earned £16180

Thank you

india

Lower for mobility and middle for care.

Former_MSE_Andrea

A huge thanks to everyone helping each other out on here, especially blondebubbles. It's exactly what the MoneySaving community is all about