The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Working Tax Credit
Post Info TOPIC: Working Tax Credit
tonys


Senior Member

Status: Offline
Posts: 226
Date:
Working Tax Credit
Permalink Closed

Hi,

Can someone tell me amount of joint income a couple must not exceed to receive any working tax credit?

Case in point is a couple with 2 children working over 30 hours.
Regards,

Tony.

__________________
gbm


Guru

Status: Offline
Posts: 896
Date:
Permalink Closed

Hi Tony,

2 children working over 30 hours? Surely that breaks child labour laws!!! Sorry, couldn't resist!smile

Re the question, it won't be WTC, it'll be CTC and for the current tax year, I think it will be £58k. The calculator is here:

http://www.hmrc.gov.uk/taxcredits/payments-entitlement/entitlement/question-how-much.htm



__________________

 

Regards,
Nick

Website: www.gbmaccounts.co.uk
Twitter

Factsheet | Starting a Business

 
tonys


Senior Member

Status: Offline
Posts: 226
Date:
Permalink Closed

Thanks Nick,

Basically I was looking at the calculation for WTC element on HMRC form,
Basic 06/04-5/04/11 £1923.55
Second Adult 06/04-5/04/11 £1890.7
30 hour 06/04-5/04 £792.05
Tot 34606.3
then it states relocation due to income £4606.3
Amount due £0
Estimated income for 2010/11 joint £34078

They state the calc as 34078 less 6420 allow 27658 *39%=10786
What I meant in the post was, if a couple earning £34078 jointly don't get any WTC according to above, at what point does joint income actually allow you to receive WTC.

I am going to read through all the notes on HMRC as I need to fully grasp this.

Regards,
Tony.



__________________
gbm


Guru

Status: Offline
Posts: 896
Date:
Permalink Closed

Hi Tony - I think on that joint income, they should definitely get the family element.

You can't just look at WTC, it's WTC and CTC.

Sorry for short answer, bit busy with tax returns at mo!


__________________

 

Regards,
Nick

Website: www.gbmaccounts.co.uk
Twitter

Factsheet | Starting a Business

 
tonys


Senior Member

Status: Offline
Posts: 226
Date:
Permalink Closed

Studying up on this now, cheers for your time!

regards,

Tony.

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> Working Tax Credit
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About