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Another tax credits thread

(5 Posts)
bunchamunchycrunchycarrots Sat 22-Jun-13 23:39:48

I've had my renewal completed and got confirmation of my award in. It's in line with what I thought it might be, so that's not the issue. The issue is the 'predicted' reduction for the following year that caught my eye and wondered if anyone else had the same?

The prediction for 2014/2015 reduces the payment by 61%. My circumstances, assuming I don't get made redundant, won't change i.e. I won't get any salary increase and my childcare costs won't go down any so I'm concerned why the predicted decrease is so drastic. Is there a massive cut due next year? The predicted payments used to be a small reduction based on a guessed at wage increase, but this one is very different, and is such a huge drop I'm now wondering what 2014/2015 means in terms of further cuts.

Anyone got any info?

Gooshka Sun 23-Jun-13 08:07:41

The only thing I can think of is having a child who turns 16 in that year as they automatically cease payments for that child until you advise them they are staying in further education (at which point they reactivate them!). If you have a little one you are paying childcare for, perhaps they're assuming they'll be in nursery/preschool. It's hard to say. Have you checked all your other info on award ie qualifying children etc? Can't imagine it would change due to more cuts that haven't been announced yet but, then again, nothing would surprise me with this system. Hope you find a better answer soon! confused

bunchamunchycrunchycarrots Sun 23-Jun-13 08:55:29

DD is 8 and I'm paying for childcare for another 4 years at least. So no real change to the circumstances that currently gets me 70% of my childcare cost just now. Hmm. I might need to phone them about it. I honestly couldn't afford such a drastic cut. It would mean the difference between being able to work and not.

Viviennemary Sun 23-Jun-13 11:16:33

I tried to find out online why this would be so but it's just about impossible. I'd give them a ring if you are worried. But it could have something to do with this new universal credit which is going to replace some tax credits.

bunchamunchycrunchycarrots Sun 23-Jun-13 11:19:57

I was thinking it might be something to do with that Vivienne but like you say it's impossible to find out info on it. Ill wait til after the renewal period to avoid waiting ages to get through and then phone them and ask them.

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