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Over 50 and Tax Credit/19 year old
larmy16
Posts: 4,324 Forumite
Hope someone can help me.
I am 50, 51 next feb. I have a 18 year old son, 19 in March. I understand that my entitlement to child benefit for him stops in September. I also understand that at 19, tax credits stop completely. He will be studying until July 2006.
I am self employed and have been for a couple of years. Do you think they will automatically cut the amount I have been entitled to for myself at the same time? I will have been getting the CTC for him and that will stop.
I also understand that to carry on getting WTC I would have to work a minimum of 30 hours, wheras a 50 year old coming off benefits eg. IS or JSA only needs to work 16 to qualify. This does not seem fair!(griping now...)
I would love to hear from anyone who has been through this. thanx
I am 50, 51 next feb. I have a 18 year old son, 19 in March. I understand that my entitlement to child benefit for him stops in September. I also understand that at 19, tax credits stop completely. He will be studying until July 2006.
I am self employed and have been for a couple of years. Do you think they will automatically cut the amount I have been entitled to for myself at the same time? I will have been getting the CTC for him and that will stop.
I also understand that to carry on getting WTC I would have to work a minimum of 30 hours, wheras a 50 year old coming off benefits eg. IS or JSA only needs to work 16 to qualify. This does not seem fair!(griping now...)
I would love to hear from anyone who has been through this. thanx
Grocery Challenge £139/240 until 31/01
Taking part in Sealed Pot No.819/2011
Only essentials on Ebay/Amazon
Taking part in Sealed Pot No.819/2011
Only essentials on Ebay/Amazon
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Comments
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You would only have entitlement to working tax credit, the basic element,couple/lone parent element and the 30hr working element.
This would be about £3875 max tax credits, so if you earned below about £16000 you should still be entitled to something on your own basis.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
There is also an extra allowance at the age of 50 in Working Tax Credit.Torgwen..........
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I didn't include that in the calculation as that allowance is for people over 50 who are returning from work after being on benefits, otherwise there is no extra allowance for being over 50.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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I am the wrong kind of 50 in this case Grocery Challenge £139/240 until 31/01
Taking part in Sealed Pot No.819/2011
Only essentials on Ebay/Amazon0
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