Tax credits
Hi ladies,
My lo is 5 weeks old now and i'm looking at applying for our tax credits. When i rang up to order an application the bloke said we'd be entitled to ??10 a week?! We're a low income family, plus with me on smp until next Feb i thought/hoped we might get abit more? Is it really that crap? I thought this gov't was looking to support low income families who work!
What are the circumstances that determine tax credits?
xx
My lo is 5 weeks old now and i'm looking at applying for our tax credits. When i rang up to order an application the bloke said we'd be entitled to ??10 a week?! We're a low income family, plus with me on smp until next Feb i thought/hoped we might get abit more? Is it really that crap? I thought this gov't was looking to support low income families who work!
What are the circumstances that determine tax credits?
xx
0
Replies
We're fairly low income too and it's about a tenner a week. You can calculate it online here
http://www.hmrc.gov.uk/taxcredits/payments-entitlement/entitlement/question-how-much.htm
Hth XXX
This years tax credits are on last years income so your income is to high to get anything more than 10 pound a week now. However, after you have filled in your application and it is approved give the tax credits a ring. You can give an estimated income for this year, than your income is lower and your tax credtis might get higher for this year. Just be carefull though, don't underestimate your income otherwise you are overpaid at the end and have to pay it back. So try to be as accurate as you can be when calculating your income for this year. And remember you can substrat 100 pound a week for every week you are on mat leave.
If you do not ring to give an estimate you will get an underpayment, which will be paid to you when you renew your claim next year. Than they find out you earned less than they thought you earned, so they make up the difference in the amount that should be paid and is paid.
I called the other week to advise that my SMP had ended and I was on unpaid ML and they asked what our income would be for the coming year April 2011-2012 (which I thought was bizzare as they had missed out 2010-2011) including what i will earn when I go back to work, and I advised approx ??22k a year and we are now recieving just over ??100 a month so not sure why we are getting so much more than others...
I have just been on their calculator too and done an estimate based on ??22k a year and it is coming out as being entitled to ??1239 a year so if I were you I would be disputing it if you get any less than that and your income is lower. I have been told it is supposed to drop when LO turns 1, my sisters dropped to ??40 a month when her daughter turned 1 as did other peoples I know and I'm expecting similar. Hope you manage to get it sorted. x