Working tax credit and/or Child tax credit?
Guest
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Hi,
Babby arriving via stork at the end of June and so looking at how I can reclaim some of the vast amounts of tax and NI I've paid ovre the years .... looking at form BC2 from the social security (Expecting a Baby?) and it implies I can claim both. Would look at the revenue web site but can't get to it from here at the moment - 'pings' get timed out as well so I guess it's 'unavailable' - probably keeping civil service working hours ... :-)
So, as I hope some from the vastness of SN have had to do this a) can I claim both and b) wotever I can claim is it much hassle and c) is it worth it wotever the amount of hassle??
All comments appreciated ... (well, maybe ... :-) )
Ta
Dave
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Joined: Oct 2003
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Not sure if you're entitled to both but I found it best to phone up. They'll give you an answer in principle there and then and will either send you the forms or you can fill them in online.
To qualify for the working tax credit you need to be earning less than about £70k pa. The amounts given are based on your earnings but the general amount is about £500-£1k pa. It's certainly not going to make you rich but definately helps and is most welcome in my household
I've got a number somewhere as we had a stork drop us another daughter a few weeks back. Let me know if you need it and I'll have a dig.
Hope this helps.
To qualify for the working tax credit you need to be earning less than about £70k pa. The amounts given are based on your earnings but the general amount is about £500-£1k pa. It's certainly not going to make you rich but definately helps and is most welcome in my household
I've got a number somewhere as we had a stork drop us another daughter a few weeks back. Let me know if you need it and I'll have a dig.
Hope this helps.
CTC - Depends on what your situation is & what you earn
Basically, not worth claiming if joint income is over £42.5K gross as it'll be reduced to 0. Under that, then think about it. Goes down on a sliding scale. Also can proportion between each person to reduce liability, though if both are basic rate, no real point I guess. Theres about a 5k allowance, so roughly £500 saved (10%) There is also a "baby rate" @ £10k allowance, for which you'd qualify. (Means its about £47k threshold then).
Basically, not worth claiming if joint income is over £42.5K gross as it'll be reduced to 0. Under that, then think about it. Goes down on a sliding scale. Also can proportion between each person to reduce liability, though if both are basic rate, no real point I guess. Theres about a 5k allowance, so roughly £500 saved (10%) There is also a "baby rate" @ £10k allowance, for which you'd qualify. (Means its about £47k threshold then).
Scooby Regular
Joined: Oct 2004
Posts: 4,797
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From: London
there is a questionaire on the inland revenue website here where you can (in my case) discover that the money grabbing c**ts are not going to give you any of your hard earned back, due to you and your partner making the silly error of working for a living. Bitter, me?
<off to find guy fawkes' home telephone no.>
<off to find guy fawkes' home telephone no.>
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