Hi guys,
Wondering if anyone could help me, i am VERY confused!
I'm due DS1 on the 9th Feb (eeeek!) and was looking into Child Tax Credits and went to the calculator on their website to see how much me and hubbie would be entitled to.
I remember checking it in Nov last year and putting in that we had just had a baby and it was something like £400 (i am presuming that is monthly? Is that how they pay you, or is it yearly?).
I've since checked it and it's gone from £100 last month to £90 this month?!?! Same info about earnings and hrs worked etc.
Why does the amount decrease? Is it to do with the closer you get to the end of the tax year ie April it gets less and less? Does this mean it will go down every month when we apply in Feb? And does it mean that come April i have to reapply and the rate will be different or will the amount given in Feb be the one set for the rest of the year?
Super confused!! 