Partners Income down by 2/3s due to credit crunch

mitchaa

Bestpud...I do believe the thresholds have been moved a little since the new tax year began which would entitle her to receive a proportion of the child element of CTC.

I dont know what the thresholds are but i believe they change with the number of children you have.

Lisa... Are you personally going to receive any income at all this year?

Is the £22500 the final expected figure? No pay rises? No annual inflation increases? No money for you at all, just your husbands wage?


The HMRC do i qualify website is much better than entitled to.

http://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx

calleyw

Oldernotwiser wrote: »

That's not strictly true; many people who answer posts on here are employed byJCP/Benefits Agency etc and they vnbjmARE experts. Don't know whether this is the case here, of course.

Well there are a couple of people here who do.

Maybe I should have put that most people here are not experts.

I just was to lazy to go back and correct it.


I remember after I posted.


Yours


Calley

mitchaa

I have put your details into the do i qualify website and your annual award from now until 05/04/2009 should be £2580.91

Which works out around £2580.91/48 = £53.77pw

You may be getting an element of backdated CTC to bring it upto £60 perhaps.

Lisadp1970

OK I have just got the final figures for the tax credits we are entitled to.
Based on £22500 with only my hubby working and 2 children under 5.
£90PW CTC
£82PW WTC
£172PW Total

Thanks to all for your help, I do appreciate it but you can see how important it is to get accurate figures can't you?

Thanks again all.

tortmad

When I was working i was earning £22,600 pa and i was a single parent with one child and when i was in rented accommodation i got no HB and no council tax rebate. All i got was £35 per month working tax credit.

mitchaa

Lisadp1970 wrote: »

What is that and isn't it cheating?

I dont know if it's cheating or not but there is an income disregard rule of £25000

Meaning (and i am not saying this is the case, just an example)

Your husband was earning say £65,000 last year, was highly stressed in his job so moved to another position that paid him £45,000. To make some of the shortfall up, claim child tax credits and use the £25000 income disregard rule.

He would tell the HMRC he was earning £22500 in order to gain the maximum effect for child tax credit reasons, however because of the £25k disregard rule even earning £45000 he is still under.

£45000-£22500 = £22500. (Ie under the £25000 income disregard rule)

I'm not sure if this is cheating or what effects it would have on future claims but you would be a lot better off child tax credits wise saying your income was £22500 rather than £45000.

Not for 1 minute am i saying this is the case here just explaining what i think the £25000 disregard rule is.

£60k+ down to £22500 is a hell of a lot to drop? Is your husband not going to keep looking for similar paid jobs and use this £22500 job as a bridge until he finds another £60k+ job again??

Mitchaa

mitchaa

Lisadp1970 wrote: »

OK I have just got the final figures for the tax credits we are entitled to.
Based on £22500 with only my hubby working and 2 children under 5.
£90PW CTC
£82PW WTC
£172PW Total

Thanks to all for your help, I do appreciate it but you can see how important it is to get accurate figures can't you?

Thanks again all.

You are either lying or someone has made a huge fu*k up. £172pw:rotfl:

Enter the details into the HMRC website yourself.

WTC on £22500 i think not unless you are paying childcare.

Are you a wind up??

Lisadp1970

mitchaa wrote: »

£60k+ down to £22500 is a hell of a lot to drop? Is your husband not going to keep looking for similar paid jobs and use this £22500 job as a bridge until he finds another £60k+ job again??

Mitchaa

The problem with the credit crunch is that the roles that he works in have dropped down to this sort of money in London (where he was working) as well. The job he has is 8.30 - 5.00 and it is only about 25mins in the car to work. Where he was before he was getting up at 04.15 hrs to get to work and the compute each way was 90 mins. He will keep looking of course but at the moment this is about the best he can do. I will also try to get work but when you take the cost of childcare into consideration may not be worth doing.

Lisadp1970

mitchaa wrote: »

You are either lying or someone has made a huge fu*k up. £172pw:rotfl:

Enter the details into the HMRC website yourself.

WTC on £22500 i think not unless you are paying childcare.

Are you a wind up??

No that is what I was quoted when I phoned up the Tax Credit people to change our circumstances. This is just for Hubby returning to work on the figures given. If they have messed it up then that is their problem according to this website.

wornoutmumoftwo

I have put your details into the do i qualify website and your annual award from now until 05/04/2009 should be £2580.91

Which works out around £2580.91/48 = £53.77pw

You may be getting an element of backdated CTC to bring it upto £60 perhaps.

I think I made a mistake when I did the quote on entitledto, I put in the wrong year for one of your children and think this figure of £53 would be more realistic for your income.

I know nothing about HB or CTB as we don't qualify as home owners.

At the end of the day you will only find out the true entitlement when you receive your award through the post.