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Working Tax Credits!
twinklie
Posts: 5,199 Forumite
I'm married so in a couple. Hopefully from September I'll be working as a teacher (doing my training now) and he'll be studying. Someone mentioned to me that I should apply for Working Tax Credit.
I didn't think I'd get it though.
Can somebody please fill me in here. I'm so confused. Don't wanna miss out on money that could come in handy if I'm entitled to it!
Thanks
I didn't think I'd get it though.
Can somebody please fill me in here. I'm so confused. Don't wanna miss out on money that could come in handy if I'm entitled to it!
Thanks
Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 37
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 37
0
Comments
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If one of you is aged 25+ and you will be working 30+ hours per week you can claim WTC. How much you would be awarded would be dependant on income.0
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Ah right. So I can claim it.
Will I actually get anything though. Household income would be about 28K due to my starting salary and his part time job.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 370 -
I'm not sure, but it's worth checking https://www.entitledto.com as it willl show you what you would get, if anything.Debt at highest: £6,290.72 (14.2.1999)
Debt free success date: 14.8.2006 :j0 -
How much are both your earnings in this fiancial year?
6th April 2007 - 5th April 20080 -
I'm not working...doing my teacher training.
He was working full time until September when he dropped down to £773 per month plus his £155 per week (self employed wage).
Does it get worked out from this financial year for next then?Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 370 -
Next Sept I'll be working full time (hopefully) and he'll just keep up with his self employment wage.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 370 -
The rate of Tax Credits is worked out using the previous tax year's earnings as a base line, that's why subsoniccoyote asked your joint earnings for this tax year.
Do have a look at the entitledto site as well.Debt at highest: £6,290.72 (14.2.1999)
Debt free success date: 14.8.2006 :j0 -
If he earns less than £16000 then you would qualify for WTC until April 2009. But if he earns more than that there is no point claiming WTC.0
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Ok, thanks folks. At least I know that this exists now. Although we won't qualify for it.Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
% of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
MFiT-T7 #21
MFW 2025 #2
MF Date: Oct 37 Feb 370 -
Hello!
l wondered if anyone could help me, we get wftc and as OH is self employed it's based on his previous years earnings,we're due to ring up, and up date this as the accounts for 2006/7 have just been done and the income has gone up by about £5000, so WFTC's will go down which l understand but this year (2007/8) OH has been taxed on his earnings as he's earned it, which is a good thing as we wont have a big tax bill at the end of the year. What lm asking is will we have to pay back any WFTC ,we're struggling a bit now because of the fact we have had less money in wages due to paying tax.,throughout the year.
(if you understand what l mean,!!!)
OOO it's all so tricky to explain!!
Thanks in advance0
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