Tax/ Childcare Credits

[_Vicky_]

Sorry for really really basic questions but have been googling my eyes out and cannot find the answer.

Tax credits - are they paid in cash into a bank account or do they come as a tax rebate in your salary?

OK basically (fingers crossed) baby due Feb 2010 - I am self employed and trying to work out what I will get and when.

I will qualify for Maternity Allowance but thats pityful lol. As they are worked out on the year befores income does that mean I wont get any until the following year or do they recalulate for current income immediately or not?

AARRGGHHHHHHH - also all the online calulators confuse the hell out of me some say we would be due £500 a month some £22 AARRGGHHH

Basically I want to know what would we qualify for based on one income of £18000 and a new baby - any ideas anyone?

 

[moomin_troll]

i think its cash into ur account as people who dont work so dont pay tax still get tax credit payment x

cant tell u how much u will actualy get nor can the tax creidts until u start claiming

 

[xx Jaymee xx]

Hey,

I think if you earn over 16000 a year then you dont qualify for working tax credits but you still qualify for the child element. They will calculate it on the last working year (april to april) and it gets paid into your bank account weekly or 4 weekly,

hope this helps.

xxx