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tax credit - very confused, can anyone help, please?

(4 Posts)
totallyconfusedreally Sun 22-Sep-13 21:17:52

I've name changed as quite personal info, but I'd truly appreciate any help. I've read and re-read various tax/benefits sites and am baffled. Here's my situation.
I'm leaving my current job to be a SAHM - old salary was around £55k but won't be earning anything for next couple of years. My DH earns quite a low salary - £19k. Obviously we are going to struggle with the change in income but are very fortunate not to have big outgoings and have changed our living situation drastically. I can't work out if we should be looking at any tax credits?? Sorry to sound thick!
Thanks for any insight.

CogitoErgoSometimes Sun 22-Sep-13 22:31:55

If your new household income is only £19k, send an application. Tax credits are usually worked out on the previous tax-year's declared income but, if your circumstances change radically, HMRC use your actual income. The worse that can happen is you get turned down.

RedHelenB Mon 23-Sep-13 13:53:52

Prob won't qualify till April though, depending on how many children you have,as 5 months of your salary plus your husbands would probably be over the threshold.

totallyconfusedreally Mon 23-Sep-13 18:28:36

Thanks both - that's really helpful. I was worried it might be judged on our income last year, not 'from now on' sort of income. Oh well... as advised, may apply anyway and see what they say as it is such a drastic change in income/circumstances...Thanks again for both taking the time to reply.

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