Childcare element of CTC

[bonkersLFDT20]

What does this mean?

From www.channel4.com/news/nursery-care-costs-rise-as-tax-credits-fall

"From 06 April 2012, the level of household income allowed before child tax credits are withdrawn will drop to £26,000 for one-child families, and around £32,200 for families with two children."

What is it currently? It means you'll only get help if you earn less than £32,200 (we have two children, though only one using child care).

Are there clear guidelines on what the changes to the childcare element actually are?

Currently, the cut-off is £41,300. The changes for the 2012 tax year have been here on the HMRC site since the Budget statement. It says that if your income is above £32,200 and you have several children and/or you pay for childcare you may still qualify. The precise way in which the childcare element are calculated is not quantified. However, if last year is any guide, the HMRC Tax Credit Calculator should be updated shortly

Ah thanks. I had read that site at some point but it's good to read it again.