New rates for ctc wtc for 08/09?

simonanthony

Can anyone tell me if I should wait to put in my new tax credits claim until after April 5th? Is there going to be an increase worth the wait or not really? My claim ended earlier this month due to change of circumstances and I now need to make a new claim.
I understand the new claim would be backdated to when my old claim ended is that right?
Hope I've made some sort of sense here.:o
Thank you.

[Deleted User]

It makes no difference when you claim. If you are paid before 6th April you will receive the old rate. When we reach 6th April you will receive the new rates.
You should apply ASAP though because the sooner you claim, the sooner you will be paid.

simonanthony

subsoniccoyote wrote: »

It makes no difference when you claim. If you are paid before 6th April you will receive the old rate. When we reach 6th April you will receive the new rates.
You should apply ASAP though because the sooner you claim, the sooner you will be paid.

Thank you. It's just that I had seen a post somewhere advising people to wait for the new tax year as the rate was going up. But I'll get my claim in now if it makes no difference.

mitchaa

simonanthony wrote: »

Thank you. It's just that I had seen a post somewhere advising people to wait for the new tax year as the rate was going up. But I'll get my claim in now if it makes no difference.

Think that post was totally unrelated as it was relating to declaration of income.

Ie earnings used to calculate entitlement.

In a couple of weeks we will start a new tax year. At the moment they ask for earnings between April 06 and April 07.

In a couple of weeks, they will ask for earnings between April 07 to April 08

So if your income was say £50k between April 06 and April 07 but only £20k April 07-April 08 then it would be best to hold off until after April 08 to use the £20k April 07-April 08 figure.

I think this is what you may have read?

simonanthony

mitchaa wrote: »

Think that post was totally unrelated as it was relating to declaration of income.

Ie earnings used to calculate entitlement.

In a couple of weeks we will start a new tax year. At the moment they ask for earnings between April 06 and April 07.

In a couple of weeks, they will ask for earnings between April 07 to April 08

So if your income was say £50k between April 06 and April 07 but only £20k April 07-April 08 then it would be best to hold off until after April 08 to use the £20k April 07-April 08 figure.

I think this is what you may have read?

I'm think you are right.
Thank you.