Tax Credits

[cyclura]

Heres a BBC link to the new tax credit system........tbh I think it looks like a bit of a cock up

https://www.bbc.co.uk/news/10416333

 

[Dopeyjopey]

I don't even understand it!

 

[lesleyann]

i dont get it guess we will just wait and see what happens in the renewal pack lol

 

[Tegans Mama]

Only ever so slightly confusing

 

[marley2580]

As we already knew, we're going from getting hardly anything, to getting nothing at all.

 

[bathbabe]

i dont get it either.

 

[PeanutBean]

You know I've always been ok at understanding the tc system but I agree, it makes no sense!! I read that the cut off in 2012 for ctc would be £23k plus a bit. Yesterday I clicked that as net income this is the equivalent of about £19,500 which is the poverty line for a family of 2 adults and 2 kids. But now this article says for childcare there will still be higher amounts given.

I don't know what to do. These rules for one month to declare things and income changes and stuff are stupid given that under the current system each year for renewal there is no opportunity to say what your income will be the following year. I don't know what to do for us. We'll be in a state next year as I'll be on SMP instead of the main earner, but we were going to try and get through it in order ot maximise support for childcare the year after. Can't tell now whether it's better to go on current year or not next year!

 

[RainbowDrop_x]

Makes no sense to me either.. In simple terms that looks to me like the more children you have the more TC you get??? Isn't that how it is now??

Looks like it will be a case of waiting and worrying when the changes DO actually happen