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Tax Credit Advice please

(3 Posts)
Sarnie83 Mon 03-Aug-15 12:10:12

Hi

I'm very new to tax credits so wondered if someone could advise me. I have worked full time since when returning to work after having both of my children, however have just got to the point where I've had a moment of clarity and realised how fast they're growing up! SO have asked work to go part time.

Initially I had asked for 2 and a half days but they've offered me 2 days instead.......which would leave me at a bit of a loss financially.

One of my friends suggested tax credits which ive done the calculator and we are eligible BUT on what my wages would be from next week when I go part time.

Do they only consider it on your last years wages? and therefore is it worth even applying before next April?

Thanks

AndNowItsSeven Mon 03-Aug-15 13:18:35

Apply and ask for an in year calculation. Do you have a partner?
Be aware that once UC comes in if you don't earn the required amount the will reduced your UC if you don't either increase your earnings or comply will rules similar to JSA.

Babyroobs Mon 03-Aug-15 14:20:28

They initially base it on last years joint income but then if you can work out what your joint income will be for tax year 2105-16 bearing in mind from April - August you will have been full time, then you can ask for ths years estimated income to be considered. Also bear in mind from 2016, tax credits will be dropping. I think the threshold for two children will be around £26.5k ( if you don't pay for childcare).

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