How much is child tax credit?
I'm a first time Mum & I'm waiting for my tax credit application pack to arrive. Is child tax credit the same as child benefit (as in everyone gets the same amount regardless of income etc. ) Me & my partner live together & he works full time & gets Ј15,000 a year before tax. This is where it gets a bit tricky. I'm a nurse & I work for an agency called flexibank in my local hospital. I'm not contracted to a set number of hours because I pick & choose when I want to work, hence the reason its called flexibank. So i could work one shift per week, or 7 shifts per week depending on what I want. I don't know what to put on my tax credit application form in regards to my salary because I don't earn a set amount. I'm obviously on maternity leave at the mo, but I'm on maternity allowance not maternity pay because I don't have a contracted number of hours of employment so I receive Ј514 per month. Does anyone know if can I be classed as a stay at home Mum because I do only do agency work? Also does anyone know how much you have to earn to be eligible for working tax credits?
Once you have a baby, you need to work 16+ hours a week between you to qualify for Working Tax Credit.
To get help with the cost of childcare, you BOTH have to work 16+ hours a week on average.
The maximum Child Tax Credit for a family with one child is Ј545 family element plus Ј2,555 for the child element. (That's per year!).
Yes, it's very difficult to give estimated earnings when you are an agency worker or self-employed. There are two ways that the tax credits can work. 1) you tell them what was on your P60 for the previous year, and they pay you tax credits provisionally based on that - and then when you get your P60 for this year they work out if they owe you money or you owe them money. 2) you tell them your estimated income for this year, and they pay you tax credits provisionally based on your estimate - and then when you get your P60 for this year they work out who owes what.
When you are on maternity leave, you can take off Ј100 a week (or your whole maternity pay if it's less than Ј100) from the amount on your P60 when you give them your income for tax credits purposes. It's a little pressie from the government!