Tax credit calculators for new budget 2016/17

Icequeen99

Since the MSE powers are reading this thread - can you take a look at this section of the TC guide:

Do I have to repay overpayments?

If it's your fault you do have to repay. But...

If the tax office is at fault, and you've correctly told it in time of any changes, you won't have to repay.

Of course there may be a problem with evidence, and that can get tricky. As a general rule, if you did it right and the tax office failed to carry out its responsibilities, the excess cash you were paid specifically because of that error is yours. The tax office has also been told it can't take legal action for overpayments if you've not made any mistakes.

This information isn't correct. Even if you tell HMRC of changes and they are at fault, you won't get the overpayment written off unless you told them of their error on the next award notice. The burden of responsibility passes back to you under COP 26. Doing it right also means checking the subsequent award notice and that is where most cases fall down in my experience - telling them of the change is not enough to fulfil your responsibilities.

Also 'The tax office has also been told it can't take legal action for overpayments if you've not made any mistakes'. Can you point to some authority for this?

The Tax Credits Act gives legal power to recover ALL overpayments howsoever caused. COP 26 is simply a policy on how HMRC deal with that discretion. In some cases overpayments are caused through system design with no fault and HMRC can recover them.

IQ

LeeCrawf11

I'm lost with it all too. Me and Partner work 37hrs and 16hrs, earning £34,000 between us and have two young children who we pay for childcare at £94.00 per week, only pay for one really as eldest is over 3 years old now, we can't get any childcare vouchers as employers don't have them. We currently get back £84.00 in child tax credit- which obviously covers majority of childcare, we are currently on a good system but concerned with April looming and changes coming. Obviously still can not get childcare vouchers until September 2017 i've been informed when everyone can have access to them, and seems like we will lose all our tax credits is this right, not much point in my partner working. Can anyone clarify this?

cwtches

My husband has just got a job after being out of work for over a year since being made redundant. His salary will be £21,600 and my income is £3230 carers allowance. We have 2 children one is disabled and receives high rate dla for care and mobility. I am trying to work out what our tax credits are likely to be from April 2016.

cwtches

Thank you for that - it looks like we will lose about £50 a week from April.

sazzlebgood

hi i'm asking for a friend who doesn't have access to a computer. She is a single parent (no support from ex) has two children in full time education. she works 30 hrs a week and earn approx £16,000. She get working tax credits as well which is for child care. Could you tell me how much she may lose after april 2016. thanks

sazzlebgood

hi blondebubbles she says her childcare is £475 per month

sazzlebgood

sorry just posted reply and then saw it. thanks

Sixer

Asking for friend and I think I have all the right details, but shout out if I've missed anything out!

Single parent - gets no maintenance (long story) - two children aged 6 and 8.

Income: £17.5k (31 hours employed @ £16k plus £1.5k self employed in various micro-type jobs)

Childcare: £1,400 per year.

What will her award be from next year?

Sixer

Thank you, blondebubbles. I'll pass it on.

moneypit9

Many thanks to all. I have read back on the pages and done the math but still arrive at 2 different figures. My situation is simple so I hope someone can give me a brief answer as it's a huge discrepancy between less money and no money at all.

Husband earns 17,500.
2 children not yet at nursery age.
Total ctc elements 6108.54 inc the 545 family element.

If I look at the link to the chart which is said to be accurate, on 18k income we would lose 2044, leaving 4064.54 total award. Right?

Well if I do the following calculation which blonde bubbles laid out for us all previously we are entitled to nothing:

Income 17,500 - 3850 threshold = 13,650
13,650 x 48% taper = 6552
Total elements 6108.54 - 6552 = MINUS 443.46 total award received. Nada!

Which is closest to correct please? 4064 or nothing?

I would very much appreciate some response.