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Politics
Original poster

im so anxious about threats to cut ctc...

561 replies

em83 · 17/06/2010 22:40

god i feel so depressed about the threatened cut to ctc, i have been following the news religiously about this new emergency budget, and have just read an updat which was posted tonigha 22.10 which states that incomes £30.000 or over will not be entitled to ctc

im so pissed off with this and feel so anxious

OP posts:
dontgetmadgeteverything · 22/06/2010 17:28

Depends if the 40k limit is gross or net income

jellybeans · 22/06/2010 16:53

more info here on further cuts!

glittery · 22/06/2010 16:04

think so yes

allshoppedout · 22/06/2010 16:04

have just read budget cuts it says
tax credits will be reduced on a joint income of 40k or above

my dh earns £44 k i dont work

so do are credits ger reduced or not

allshoppedout · 22/06/2010 15:53

am i right then

so if u earn 40k or above tax credits r cut
we arn under that so credits are unchanged then

we arent planning on having a baby
so does this mean that our benefits and credits remain unchanged?

glittery · 22/06/2010 15:24

thislittlesisterlola i think you might still get the baby element up until April or you might be lucky and get it for the full year if it only applies to babies born after April 2011, for example, new claims?

MumNWLondon · 22/06/2010 15:13

"also you will simply get those who dont want to work simply have another baby"

except it said they will be expected to work when their FIRST child goes to school.

nellie12 · 22/06/2010 15:08

well dont forget that income tax thresholds have risen too. which works out at £30-£40month (maths isnt good) so if you earn under £40k then you will benefit from this so will only be slightly worse off if there are 2 of you paying lower income rate tax.

Not much consolation for lone parents though.

thislittlesisterlola · 22/06/2010 14:57

Thank you jellybeans for your help. Much appreciated

jellybeans · 22/06/2010 14:52

I think under 40K you will still get it for now.

some info here

Original poster
em83 · 22/06/2010 14:47

emergency budget in full

OP posts:
Aeschylus · 22/06/2010 14:46

em83

what he is saying basically that the goverment are not happy for single mothers to have a life on benefits, which I agree with.

Problems with that are, what jobs let you only work school hours and only employs term time.

also you will simply get those who dont want to work simply have another baby

thislittlesisterlola · 22/06/2010 14:44

Thank you glittery and jellybeans

Glittery- I thought as I will applying for ctc before april 2011 the baby element would still be until he is one as I applied before it came in to play? I think thats me being optimistic? Thats quite a big loss £545. Although our income will be less by then would that have relevance?

Jelly- I dont quite understand we wont get any ctc? sorry to be a pain!

Original poster
em83 · 22/06/2010 14:42

its not £30000, its £40000

OP posts:
FeelLikeTweedleDee · 22/06/2010 14:41

Is the 30K combined income or single income?

Original poster
em83 · 22/06/2010 14:35

""We will expect lone parents to look for work when their first child goes to school"

what about 2 parent families? shouldnt they have to work >

i think the £25,000 income disregard, is something like "if you earn £25000 LESS than previous year then it doesnt affect tax credits for that year" so they have reduced this to £10,000

im not 100% certain this is what it means , but this is what i take it to mean

OP posts:
jellybeans · 22/06/2010 14:31

'Also what is all this aligning the threshold about?'

Just a guess but I think this is what the lib Dems were talking about in their manifesto..

Basically I think it means once you don't qualify for the child element anymore you won't get the family element. So basically if you only get the £545 you will no longer get it if they align child/family thresholds. In other words you could get no tax credits on 25K with one child, 31-35K 2 kids, 36-40K 3 kids.

Either that or maybe they are thinking about lowering child and family elements. I have read that the lib dems wanted simelar to above though.

glittery · 22/06/2010 14:14

baby element is £545 and family element is £545 too i think, from april you wont get the baby £545 but will get the £545 of the family element, so you will get £545 in ctc instead of £1090, works out about £10.50 a week?

thislittlesisterlola · 22/06/2010 14:12

*sorry until the baby is one!
I do apologise for the questions Im so lost!

thislittlesisterlola · 22/06/2010 14:10

Im sorry for this stupid question(s) about to have my 1st and under the new 40k cap we are still ok for ctc- there are 2 elements we are looking at: family and baby element...
What I dont understand is these elements! We get the baby element until the baby one( this wont be the case april next yr though) Then do we just get family element?
Also what is all this aligning the threshold about?
ctc is going up?
My poor head is just spinning!!

peppapighastakenovermylife · 22/06/2010 14:02

When are tax credits being cut from? Anyone know? April?

Persnickety · 22/06/2010 13:51

Am very happy about keeping chid benefit

ronshar · 22/06/2010 13:31

Poor George his voice is going.

boiledegg1 · 22/06/2010 13:28

So far it doesn't sound as bad as I thought it would be.

boiledegg1 · 22/06/2010 13:26

Hey I have to pay corporation tax as a small business owner, we aren't all minted!