Suggested Searches: faq personal finance
child benefit/tax credits
is this the same thing or two different entitlements?
i currently recieve the ?20p/w benefit and done the online calculator for the tax credits. this worked out i was entitled to approx ?500 a yr child tax credits. is this something additional to what im already recieving?
TIA
CB & CTC are separate, but both dealt with by HMRC. CTC was introduced in 2003. More info on CTC is here- http://www.direct.gov.uk/en/MoneyTax...dits/DG_073802
is this a real post?
Blackpool_Saver, it may sound a silly question but i was genually confused if it was the same thing or two different benefits as i've never been entitled to anything before having my son. as were now down to one income (our choosing) im try to get clued up on what were entitled to, if anything. 2nd tax credits based q- on the website it works it out based on earnings for 09 tax year. as i took maternity leave from may 09 and therefore my earnings will be significantly lower for this tax year would i then be entitled to a higher amount of tax credits or is this not taken into account?
Child benefit is the old child allowance which used to be paid to the mother and there was a book. Now it is ?20 a week and everyone, even millionaires can get it. Child tax credits are extra payments (cash not anything to do with tax !) made when you are unemployed and have a child. Just a different name. They depend upon your income from last year. I think the maximum you can get as a single parent with one child is about ?54 a week. Working tax credits are just that, but it is still cash. It is like help to let you take a job which you couldn't take if you lost all your child tax credits. It depends upon how much you think you will get over the forthcoming year (tax year to tax year). The confusing thing is calling then credits and then using the word tax.
Certainly looks like a genuine question. I mean a benefit question on a benefit help section, whatever next.
CB & CTC are separate, but both dealt with by HMRC. CTC was introduced in 2003. More info on CTC is here- http://www.direct.gov.uk/en/MoneyTax...dits/DG_073802
is this a real post?
Blackpool_Saver, it may sound a silly question but i was genually confused if it was the same thing or two different benefits as i've never been entitled to anything before having my son. as were now down to one income (our choosing) im try to get clued up on what were entitled to, if anything. 2nd tax credits based q- on the website it works it out based on earnings for 09 tax year. as i took maternity leave from may 09 and therefore my earnings will be significantly lower for this tax year would i then be entitled to a higher amount of tax credits or is this not taken into account?
Child benefit is the old child allowance which used to be paid to the mother and there was a book. Now it is ?20 a week and everyone, even millionaires can get it. Child tax credits are extra payments (cash not anything to do with tax !) made when you are unemployed and have a child. Just a different name. They depend upon your income from last year. I think the maximum you can get as a single parent with one child is about ?54 a week. Working tax credits are just that, but it is still cash. It is like help to let you take a job which you couldn't take if you lost all your child tax credits. It depends upon how much you think you will get over the forthcoming year (tax year to tax year). The confusing thing is calling then credits and then using the word tax.
Certainly looks like a genuine question. I mean a benefit question on a benefit help section, whatever next.