im so anxious about threats to cut ctc...

[em83]

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

emergency budget in full

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

some info here

Thank you jellybeans for your help. Much appreciated

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.

"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.

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?

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?

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

think so yes

more info here on further cuts!

Depends if the 40k limit is gross or net income

'2.37 From April 2011, the second income threshold for the family element of
the Child Tax Credit will reduce from £50,000 to £40,000 and from April
2012, the family element of the Child Tax Credit will be withdrawn
immediately after the child element. (37) (39)'

From the budget report. I am still looking for further info on the thresholds but I think it is around 25K for 1 child.

stretch that was a bit harsh- Barmy said they didn't claim it because they didn't need it. Why bash them?

Acanthus, am I right saying that your reciept of CTC is not dependent on how much capital you have, or savings either?

It's just that there have been a few posts on here about single parents and CTC, yet nothing about single parents or couples where their savings may actually total the same as what a single person may get in maintenance per year. But noone seems to slam them or the system for that?
I guess you do know about maintenance payments of £2k per month, but on the whole I would think this is very rare-I actually thought you were joking about £2k per month.

thanks glittery

dontgetmad it's gross not net

londonone - have you ever considered how hideously self-righteous you sound? Just wondering

No real changes for us I think, we don't get very much CTC now anyway as just over the threshold that will go to zero. CB will continue but no increases for three years.

Not planning any more babies either.

Not joking

I think they attribute an income from savings and reduce your entitlement that way but I'm not sure

I'm not sure that they do. I know they do for shares and similar and thereby treat it as notional income, but that's it I think.

allshoppedout the "think so yes" and the smiley face were about your post on tax credits remaining unchanged not the one after asking if they would be reduced! sorry, cross posted!

there's also been an alteration (from 37% to 41% ) to the taper rate - (ie how income affects the tax credits you get). There's no proper explanation but it will mean reductions in paymnets made to anyone earning over the first cut off threshild (just over 6k). I think it will be about 500 a year for me but its really hard to fathom the impact.

BBC calculator

Might help, not sure how accurate it is though and it doesn't take into account the VAT rise.

You know, to someone who earns under £10k per year talk of £30k a year not being enough is hard to understand. Sounds like a fortune to me - I have to pay for everything too, no benefits other than child and if they scrap that and add a little on to wftc then that would be fine.

It isn't good to be dependent on the government to help you out if you are on a good wage.

Sorry but something needs to be done and whining about it doesn't help - not very productive. No one wants to bear the brunt.

Can anyone help?

My 2 and 3/4 year old daughter attends a nursery 3 days a week. I was under the impression (from other mum friends as well as from nursery bursar) that when my daughter turns 3 the government will pay for 15 hrs/week nursery time, regardless of my income.

Will this scheme be axed under the emergency budget? Thanks.