Talk

Advanced search

to not understand tax credits at all

(10 Posts)
DuelingFanjo Sun 07-Aug-11 23:06:42

Sorry for the Daily Mail link but they say "Until April, working tax credit covered 80 per cent of the costs of childcare, up to £175 a week for one child and £300 a week for two or more" here

so...

I know this has been cut and changes have been made but what is the threshold for WTC and how little would I have to be earning (well, me and my husband combined) to get that much of my childcare paid for?

LineRunner Sun 07-Aug-11 23:09:41

Who knows? It's a formula from hell.

If you go on the HMRC web site there's is no way, it seems to me, to ask the specific question of about exactly how much of one's childcare costs would covered at a particular family income.

The 'calculator' never gives a specific percentage.

Unless anyone knows different?

gallicgirl Sun 07-Aug-11 23:13:24

I used to work in housing benefits so had a fair idea how most benefits were calculated but tax credits was always a mystery.

Worryingly, it also seemed a mystery to most of the staff in the call centres that I had to speak to.

I've delayed making a claim because I know it will be hideous for very little, if any, money.

griphook Sun 07-Aug-11 23:14:37

thing is the wording is wrong it should say, up to 80%, although that has changed to 70%, and what they forget to mention is that unless you are on a really really shit salary you will get some help, if you are just on a shit salary we might help a bit, and if you are normal salary, well just go sing for it. Sorry in a bad mood.
Mn was very helpful when needed help with tax credit and child care and I think someone said if you earn over 25k joint a year you don't get any thing towards childcre. Although they work on the year before so if you are on mat leave and not earning much you should be ok next year. it's the year after i'm worried about.

griphook Sun 07-Aug-11 23:16:19

alsono ideas on working out the percentage complete loss to me. Also if you need to call them, call dead on 8.00 in morning.

DuelingFanjo Sun 07-Aug-11 23:18:21

ok, thank you - that would make sense. I went through the whole interview on the phone with them and they said I wasn't going to get wtc but the child tax credits might be different, though they seemed vague about that. I have a form which I am going to fill in and send back once I am off maternity leave. Griphook, so I was right in thinking they base it on your previous tax year? sio potentially the following year I could owe them?

gallicgirl Sun 07-Aug-11 23:20:32

I was told they base it on previous year but you can tell them about a change of circumstances within the tax year.

I know I won't qualify on normal pay so was going to claim while on maternity leave.

treedelivery Sun 07-Aug-11 23:32:14

There are manuals www.hmrc.gov.uk/manuals/tctmanual/index.htm here. If you fancy some night time reading! I can't make head nor tale of any of it.

EricNorthmansMistressOfPotions Mon 08-Aug-11 08:17:32

I earn about 24k and I get about £130 a week in tax credits, both CTC and childcare element (don't know what proportion is which, though CTC is lower) and I have childcare costs of about £170 a week. HTH!

Fuzzywuzzywozabear Mon 08-Aug-11 08:23:11

We give our figures to the dept. We get the letters to tell us our award. I sit and read them intently - I can't make head nor tail - I'm always convinced they're going to ask for it back! YANBU

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now