Page 1 of Anyone claiming Child Tax Credits? Prepare to lose them

Had a letter today saying that our Child Tax credits will cease as from next month. The reason being that our joint income exceeds £26k a reduction from the previous allowance of £41k. That`s a 15k reduction!!!
I can`t imagine any family with two adults working earn less than 26k. Crazy

Not forgetting the mad Family Allowance cliff edge issue.
One parent earning just over the 40% band and family allowance will be lost completely.  But husband and wife both earn 42k and it`s fine.  It`s another one announced in advance that people don`t seem aware of until, like you, suddenly they get a letter...

That can easily be an effective cut of 4K/year salary (someone with 3 kids?) - nevermind the £40/month from the tax credits.

Ste

Quote:
One parent earning just over the 40% band and family allowance will be lost completely. But husband and wife both earn 42k and it`s fine.

I`m still hopeful that as D-Day approaches, pressure will be put on them to think again.
As you say, it`s ludicrous that a family with a single earner on £45k will lose it.
But a family with two people each earning £40k (total household income £80k) will keep it.
It should be based on the household income, and that`s that.

well if we get it... its not worth the wife working, it costs me £300 a month in Childcare as it is, we would be better off employing the wife to look after the two devil children!

What`s family allowance then?

I know the tax credits are coming right down, so we won`t qualify for anything, but this is a separate part (is the Childcard element of tax credits you are on about?)

www.last.fm/user/1mills

I believe it affects those with only one child

This item was edited on Monday, 27th February 2012, 15:15

Quote:
What`s family allowance then?

Family allowance is what everyone with a child gets, currently regardless of income.
I`ve long agreed this is daft, it`s stupid that people who clearly don`t need it still get it.
I know people who use it to pay for holidays etc.

Quote:
I believe it affects those with only one child



2013 removal of child benefit only affects those with one child?
Source?

Is it actually called "Child Benefit" though is it, rather than family allowance.

The £20.30 per week for first child and then £13.40 for additional children?


To be be honest that is a massive bonus for us, as everyone calls stuff different names so get`s confusing looking at everything.

I had looked and calculated we wouldn`t get anything from tax credits and just assumed child benefit was part of the child element of child tax credits.




www.last.fm/user/1mills

It is madness that a family with a single earner of 45k will lose it, but a family with 2x 40k wont. They should both lose it.



"Talking`s for lesbians" Psycho Paul 2011.