Don't you just love the govenment. What a wonderful scheme, you get back some of the tax you have to pay in the first place.

When the scheme was launched I had only be out of Uni and working for 6 months so my P60 displayed 1/2 what my salary was. We told them this, and they said don't worry we will find out through your PAYE contributions exactly what you are earning.

Fine at end of previous tax year give P60 details and they "re-calculate payments" fine still getting £300 ish a month to cover £350 bill for childcare etc...

This year I have started to be paid for overtime, this is not garenteed and is fairly spradic but when I have to do it I really have to do it. Approx 100hours a month!!!! So September/December/March were really good pay packets.

Now we have come to resubmit income for this year, and so gave them the figure on my last payslip which included pay for over time. This was approx £3000 more than the year before

They now come back and say we are entitled to £0 this year fair enough pay has increase by overtime, but this is not garenteed, BUT they also say they have overpaid us for last year and want £2500 back which they are happy to take at £60 a month!!!

So now we have to find the £350 a month for childcare and £60 for the Inland Revenue plus our mortgage is more expensive due to intrest rates and our council tax shot up this year by a huge amount.



"ITS MONEY WITH YOUR NAME ON IT" Bo11ocks,

If they can not come up with a system that is linked to PAYE and so gives you money back accordingly each month, then they should not come up with the idea of faimilay tax credits???? This is meant to relieave poverty for working familys not push them over the edge!!!!!

Rant mode off.

So watch out if you are reciving this year, stick it in the bank as next year they maywell want it back!!!!!!!!!!!!!!!!!!!!!

 

The moral of the story?? Don't have kids unless you can support them!

 

£0 - That means your household income must be over what?.... 50k a year......and yes you are right it is supposed to relieve poverty.

 

No where near 50K take over 20K off that figure and you are close for our combined income last year.

As to the other comment, yes I can support my ONE child, just seams a cack arsed way of running a system, lets evaluate once a year and penalise you if you have managed to earn more.

The litriture state you have to imform them if your salary increases by more than 2K, well my salary remained unchanged, I just got three large lumps of overtime, which was really me being paid for not being able to take time off, at the end of last september, I had 19 days holiday to take before the end of the year and over 100 hours of time off owed, the conversation went. "I'll see you in January" and my boss replied "no we will buy the time off you" my response was "Cool" and thought no more of it.

 

Nex

Sounds wrong mate, I get £50 a month and our income combined is over 50k. I am paying childcare costs tho'.

 

Yeah we pay £350 a month in childcare.

 

Stolen from a website:

Your entitlement to tax credits will depend on your annual taxable income. Although tax credits are income based you should not assume that you have too much money to qualify. You can have a gross taxable income of up to £58,000 per year (£66,000 if you have a baby under 1) and still get some Child Tax Credit. If you are a member of a couple then your partner's income is counted. A dependant child's income is always fully disregarded.

A tax credit award is usually assessed on the income from the previous tax year. However if your current year's income is likely to be less than in the previous year, your current income will be used instead. If your current year's income is likely to exceed your previous year's income by more than £2,500, then current year's income minus £2,500 is used.

 

Is this Basic income or including benefits. If you take a car allowance in lieu of company how is this dealt with, as a company car is a taxable benfit do they add the benefit?????

Thought I might ask as the subject has been raised.

Nex, from what you say seems like you are being done.

Rupe

 

I get £10.18 or something a week! I think it's rubbish that they base it on last year's income. They should have stuck with working families tax credit. Much better system.

 

Bingo!

 

Think they must have stuffed up as I just enter all our details on the childrens tax credit online calculator and it came out with £366 a month, which is more than we had last year????