Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Tax credits

(3 Posts)
misspollysdolly Mon 11-Jul-11 20:52:33

Just wondering if anyone can explain to me in real terms how tax credits actually work/are calculated...?! I am probably just a bit thick, but I haven't a clue what they are all about. I also haven't a clue what changes to our lifestyle would bring changes to the amount we get. Both DH and I earn a low amount (I think, relatively - though I actually don't ever ask anyone else what they earn so who knows...hmm) and we get quite an amount of tax credits money each months (so it seems - again, haven't ever asked anyone else...) - certainly our childcare is entirely covered with extra. I had always thought that I had to work at least 16 hours per week to be eligible (have worked part/half-time since having DD) but I am now pregnant with DC4 and have had a few thoughts about not working for a while - a friend said our tax credits would increase if I stopped working, but I don't understand how since I always thought my work was crucial to our claim... Any wisdom anyone...?! I haven't a clue, frankly...confused MPD

cjbartlett Mon 11-Jul-11 20:54:51

No they will decrease if you're talking about working tax credit

Look at

CogitoErgoSometimes Mon 11-Jul-11 21:23:38

Best way to understand is to take some time and read through this explanation of Tax Credits and run some 'what ifs' through this Benefits Checker

Join the discussion

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

Register now »

Already registered? Log in with: