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I've been working part time 22 hours a week since January earning £146pw. DS goes to nursery part time costing £94 a week and I get tax credits £120 pw. Hubby works full time earning £250 a week.
I've been offered full time hours at work, which I have accepted.
I know that my tax credits is all going to change. Last year our household income was around £17,000 (because I only started working in January)
This year our income will be around £28,000.
I have been trying to work out how much tax credits we will get as DS nursery fees will be changing to £149pw as he will be doing full time from Wednesday.
When I go on the tax credits calculator it only asks for 2014-2015 income, not the current tax year income and there's a big difference.
I also read that if you have an increase in income the first £5,000 is disregarded.. Is this true? If this is true then my income would be £23,000 is this correct?
I'm so confused!
Also if I ring up HMRC to inform them of the changes, does anyone know how long it will take for them to make the changes? I currently get paid every 4 weeks but want them to change it to weekly if they will let me do that.
Thank you in advance for any help
I've been offered full time hours at work, which I have accepted.
I know that my tax credits is all going to change. Last year our household income was around £17,000 (because I only started working in January)
This year our income will be around £28,000.
I have been trying to work out how much tax credits we will get as DS nursery fees will be changing to £149pw as he will be doing full time from Wednesday.
When I go on the tax credits calculator it only asks for 2014-2015 income, not the current tax year income and there's a big difference.
I also read that if you have an increase in income the first £5,000 is disregarded.. Is this true? If this is true then my income would be £23,000 is this correct?
I'm so confused!
Also if I ring up HMRC to inform them of the changes, does anyone know how long it will take for them to make the changes? I currently get paid every 4 weeks but want them to change it to weekly if they will let me do that.
Thank you in advance for any help
