Lower tax credits - From today!

[ouchwithNo.2]

Im confused too as we were told ours were being reduced to £25 a week but they are still the same, £40 today? maybe its at the end of the month?

prob because the new tax year starts 6th April - will change after then....

 

[pinkie77]

It's paid in arrears I think, so it'll be next weeks money that will be lower

 

[Aphrodite]

Ah right that makes sense thanks x

 

[bump_wanted]

I think we will only miss out on tge baby element which id only have for another week or 2 anyway so fingers crossed it wont hit us as bad as some id be up the creek if i lost 200 quid xx

 

[sweetlullaby]

I dont understand it either though Im pretty sure mine has changed a few times.

If you hunt out the letter you get when you re newed your ctc last year it should tell you what they will "drop to" from april.

I know mine went down by £10 a week when LO turned one but Im pretty sure mine might have dropped again recently.

I really hope it doesn't drop further again this month Im living off ctc and cb this month as wages have to pay off a bill

 

[happygal]

i have tried to phone them today but the systems are down untill wednesday but i was told to expect a massive wait on the phone for the rest of the week! its terrible, if i dont get through untilll next week, i wont find out how much im losing until i go to tghe bank! its not fair that they expect people to cope with the loss of money....without telling people in advance how much they will loose x

 

[Noodles]

My circumstances haven't changed at all. I worked it out that I am working full time for £197 a month, that's less than £10 a day. Between us we earned less than £31,000 last year.

I got an extra £42 and then another £50 in March but when I got the 'other' payment I ended up with about £20 more than I normally get a month as that one was reduced.

I think I'll be taking my mat leave early as I won't have to pay for childcare costs so I won't get the tax credits but I will be able to spend more time with my son.

 

[Noodles]

Is this due to income noodles? Xx

My income hasn't changed, in fact nothing has and I'm due to go on maternity leave again in 7 weeks so I'll earn even less money 2011/2012 then I did 2010/2011.

 

[Noodles]

Im confused too as we were told ours were being reduced to £25 a week but they are still the same, £40 today? maybe its at the end of the month?

prob because the new tax year starts 6th April - will change after then....

Any idea why mine is lower today then?

 

[lisa9999]

I am confused by tax credits. I get £23 a week (I think) based on the earnings of 2009/2010 which was under the 50k threshold.

For the tax year 2010/2011 we will go over that 40k threshold so will they know this automatically or do I need to tell them?

Can someone explain the 70% 80% childcare cost thing to me? I don't understand. The govt pays 70/80% childcare cost? How come?

They wont know automatically. They will know when you do your renewal in July. Its better if you ring them to tell them as and when your circumstances change, cos otherwise you may be in a position when you owe them.

I think so anyway! Please correct me if I'm wrong.

The childcare cost thing - the govt pays your childcare costs up to 70% if you earn under a certain amount (£40k I think) you get it as part of your tax credit payment (working tax credits)

 

[karlilay]

Im confused too as we were told ours were being reduced to £25 a week but they are still the same, £40 today? maybe its at the end of the month?

prob because the new tax year starts 6th April - will change after then....

Any idea why mine is lower today then?

My sisters went down this week.
Mines going down on the 11th though?

Hi Ladies, were also down on £50 a week
This is from Working Tax Credits though, because they work it out on previous year. My OH was only working in a full time job for half the year. And last year he worked full time from last April to this April so his income is bigger. Im a SAHM, with two kids, and he only earns just over £14000. Iv actually been in tears today because we just seem to get by on the money we have now, i dont know how were gunna live when they take this money away. Am waiting for a housing benefit form... All i can see in my head is that i will have to go back to work, when all i want to do is stay at home and raise my babies..

Seems like your punished if you dont work, and punished if you do.

 

[angelmummy]

i have never got anything for my chidlcare costs!!! Rung them loads of times and we are not entitled!!!

We both work me 22.5 hours
dh works 39 hours
we earn about 30,000 between us

 

[Noodles]

Where is the incentive to go back to work? It's a joke!

 

[Gingerspice]

do you have to ring them and tell them then when LO starts nursery? I haven't updated them with this, and we earn well below the threshold - I wonder if we'll get some money towards them being at nursery then.

 

[anna matronic]

You call them a week before because they need the nursery details

 

[Gingerspice]

oh....I never have told them I've gne back and LO is at nursery. Guess I'll wait til wednesday now and try from then to sort it all out. :S