Tax credits and income

[Scottishthreeberry16]

I'm a lone parent with 2 schoolage children, currently getting about £500/month tax credits but hope to be earning about £27k gross in February.

Will the £500 be reduced does anyone know on this income? - think it works out at 1700/mth after tax, etc.

Do you pay childcare? How many children do you have? Need to know both to work out if you will still be entitled.

Sorry I see you have 2, I should learn to read!

Kids aged 11 and 16 but still at school and will be for A levels. No childcare. I don't get working tax credits as I ve been retraining. Would these kick in? Am pretty hopeless at all this stuff

You won't get working tax creditsas your income will be too high and you have no childcare costs . You will get some child tax credits until your eldest leaves full time education then they will stop as the threshold for one child is around £26k. I'm not sure how much you will get but it will obviously be a lot less than £500 a month. You can use one of the benefit calculaters to work out what you will get.

Yes it will be reduced as your income won't need to be topped up. The tax credit website has a calculator you can put all you info into and see how much you'll be entitled to.

Thanks people.