ATOMIC SUPLEX
Member Since: 1985 Post Count: 3
That's a bit bonkers though isn't it? I mean it's great while I am not working and everything but it seems rather a lot.
Child tax credit. Am I getting too much?
- Thread starter ATOMIC SUPLEX
- Start date
ethel
Well-Known Member
based on what i know about WTC/CTC i plugegd in an approx figure for your wife and worked out that you should be getting £80 a week in WTC/CTC COMBINED. I presume when you mention that you are getting paid £500 a month WTC you actually mean £500 a month combined WTC and CTC?
Looby
Well-Known Member
This ^^^
1927
Funnier than he thinks he is.
I'm the sole owner in our house and we have a 1yr old, but we only get a tenner a week, and no I'm not on mega bucks!
weepiper
I fix the machines that fight climate change
your definition of mega bucks may vary from the Inland Revenue's
Looby
Well-Known Member
When I worked out the difference between me working full time and not working at all it was only about £30 a month. It's very odd.
1927
Funnier than he thinks he is.
Which makes the idea of someone receiving £600 a month very dodgy.
ethel
Well-Known Member
HMRC. ahem.
£20,000 is "megabucks" according to my leaflet. goes up to £30,000 if you have three kids.
Looby
Well-Known Member
Not dodgy just confusing. It depends how much his wife earns but A Suplex has used the online calculator Sarahluv posted and that came out saying he was entitled to more.
1927
Funnier than he thinks he is.
I know that the cut off for receiving nothing from WTC is about £60k, as I'm not even half way to that figure it seems strange that we only get a tenner. If £30k+ is the diffrence between £10 and zero makes you wonder what the point is, as the cost of assessment and distribution must be more than the payout, and lets be honest if ya earning over £30k a tenner a week aint gonn alake a difference. Tax credits are the biggest waste of time and effort ever, and cause a lot of hardship imho. It was just a scheme to gte votes.
Looby
Well-Known Member
Crazy. 20k is fuck all for a family to live on.
ethel
Well-Known Member
well, as i said, my back of a fag packet calculations came out with about £420.
if one partner was on the minimum wage and working only 16 hours it'd be £770 a month. i assumed that the OP's partner was working full time.
ethel
Well-Known Member
not true. it's about £16,000 for a couple. CTC, yes. it's about £60,000, but it's worth about £400 pa at that income level. in fact a couple with one kid earning over about £25,000 are only entitled to about £600 pa.
weepiper
I fix the machines that fight climate change
the sliding scale needs to be different IMO, but I disagree with the big waste of time and effort thing - I'd be utterly, utterly screwed without tax credits and would have no choice but to live with my 3 kids on Income Support, because there's no way I could ever afford childcare without them. My brother and his family (he works, wife doesn't, two primary school age kids) would agree with you though, he earns just enough to stop him qualifying for any useful benefits and a minimu of CTC, and they really struggle.
I'm signing on and get 54 quid a week Child tax Credit on top of it. I don't get any WTC though as I'm not working obviously.
Everyone gets Child Tax Credits even if not working. We'd be out begging without them.
ATOMIC SUPLEX
Member Since: 1985 Post Count: 3
She is, and is on about 22k, but when I filled out your on line thing it came out at about 700 per month combined tax credits.
ATOMIC SUPLEX
Member Since: 1985 Post Count: 3
Me neither, the WTC comes because my wife is working.
ATOMIC SUPLEX
Member Since: 1985 Post Count: 3
Gross or net?
1927
Funnier than he thinks he is.
No I didnt mean it like that. What I meant was why dont they make the cut off lower as the cost of administering the system for higher earners, who will get very little anyway, seems unjustified. If say you didnt get anything on earnings of £30k plus, which is going to be very little anyway it would free up money for the lower paid and probable mean getting rid of a few hundred civil servants who adminster it.
As an aside I dont understand why Faimly allowance or whatever it is has nevr been means tested. Even a famil with millions and earning hundreds of thousands still get the same rate, crazy!
ethel
Well-Known Member
umm..i don't think you filled it out properly then. are you registered as working 0 hours? i think you are being massively overpaid.
1927
Funnier than he thinks he is.
OK sorry, I knew £66k came into it somewhere, but you do illustrate my point tho, Between £25k and £60k there is very little entitlement which the government might as well do away with.
ethel
Well-Known Member
you shouldn't be getting that much WTC though. you should be getting less than £2000 a year.
rates are here: http://www.hmrc.gov.uk/leaflets/wtc1.pdf (see page 9)
ethel
Well-Known Member
Looby
Well-Known Member
Yup.
I thought his wife was on min wage or something. Magic Sam is on a little more than that and we'd be entitled to £24 a week if our imaginary baby was born on 6 April.
ethel
Well-Known Member
i'm not sure what the take up rate is amongst the higher earners.
it's child benefit now.
it's not means tested because it's not that much money and it would be an adminstraive nightmare to start means testing it. last little bit of non means tested government support left.
ethel
Well-Known Member
Yup.
yup, i plugged in £15,000.
fen_boy
Exits gracefully.
When I fill your details in as described by you it works out at £750 a year.
http://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx
Actually ignore that, I hadn't put in nursery fees.. are you paying 700 a month in nursery fees??
http://www.taxcredits.inlandrevenue.gov.uk/Qualify/DIQHousehold.aspx
Actually ignore that, I hadn't put in nursery fees.. are you paying 700 a month in nursery fees??
ethel
Well-Known Member
he's not entitled to help with nursery fees!
