Backdating child tax
You can claim for up to 70% of your childcare costs.The maximum payout for a single child is £122.50 a week or £210 a week for two or more children.
The amount that you may receive increases because in this case you'll be entitled to more ‘elements’ (in this case, the disability and childcare elements) than a family with different circumstances.In other words, your income can be higher than the probable income limit and you'll still get tax credit.Let’s say you have one child and your joint income is £19,000 per year.If you don’t have children, but you are over 25 and work 30 hours per week, you may be eligible to claim Working Tax Credit.You can claim up until the child's 20th birthday as long as they are in full time education (higher education such as university doesn't count).Before we work out the reductions, your entitlement would be as follows: Basic family element - £545 Child element - £2,690 So, our starting total is The child element is reduced first at a rate of 41 per cent.
In other words, we’re going to work out 41% of the ‘excess’ income and then subtract that from the child element. £19,000 - £15,860 = £3140You may remember that the basic family element is only reduced if your income is sufficiently large so that when set against your total possible entitlement, your actual entitlement is reduced to zero.
My sister has been entitled to child tax credit but because she forgot to tell them she was continuing with her education, she hasn't received her child tax credit since Last September. Will they still pay her the months that she was supposed to get paid?
Hi all just wondering if any of you have had to call child tax credits in regards to backdating the disability element and how long it takes?
So, the reduced amount of the child element - £1,402.60 plus the family element - £545We’re going to work out 41% of the ‘excess’ income and then subtract that from our total starting tax credits.
Take £6,420 away from your income of £19,000 £19,000 - £6,420 = £12,580 (This figure is your excess)You can receive back up to 70% of your childcare costs if the care is provided from a registered or approved childcare, but you must be work over 16 hours a week as either a single person, or between a couple (i.e 8 hours each) to claim.
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