There are a number of changes coming into place on the 6th of April
Changes to Working Tax Credit for Couples
At the moment, if you’re responsible for at least one child and working at least 16 hours a week, you can get Working Tax Credit. From 6 April 2012, the rules for couples with at least one child are changing. In most cases, to qualify for Working Tax Credit your joint working hours will need to be at least 24 a week.
This will mean:
- if you both work your joint weekly hours must be at least 24, with one of you working at least 16 hours a week
- if only one of you works, that person must be working at least 24 hours a week
If neither of these apply, your Working Tax Credit will stop from 6 April 2012. (There are some exemptions for those who have a disability, where one of the couple is over 60, in hospital or in prison.)
Those unable to up their hours face a drop in income of up to £74 per week
LONE PARENTS CAN STILL WORK FOR 16 HOURS AND GET WTC.
Positive news for working families with disabled children
A regulation change, announced in the 2012 Budget, says that a couple will continue to receive Working Tax Credits so long as one partner works 16 hours a week and their partner is entitled to Carer’s Allowance. The government has also amended the rules on getting help with childcare costs. From April childcare costs can be included in a tax credit claim where one partner works 16 hours a week and their partner is entitled to carer’s allowance. This opens up childcare to a group that weren’t previously able to access it. Read more here http://bit.ly/GGPCV6
The income limit for Child Tax Credit is going down
Child Tax Credit payments depend on your circumstances and income.
At the moment, you can usually get some Child Tax Credit, as long as your income is not over the limit of £41,300. From 6 April 2012, this limit will be lower for most people.
From 6 April 2012, the income limit for you will depend on your own situation. But as a very rough guide, you might not be able to get Child Tax Credit from 6 April 2012 if:
- you have one child, and your annual income is more than around £26,000
- you have two children, and your annual income is more than around £32,200
But it’s important to know that:
- this is a rough guide
- the income limit for you may be different, as it depends on your own circumstances
You could still qualify from 6 April 2012 if your income is above these amounts. For example, if you pay for registered or approved childcare, are disabled, or have more than one or two children.
Changes for the over 50s
If you’re getting the extra amount of Working Tax Credit, called the ’50-plus element’, this stops from 6 April 2012.
But you can still get Working Tax Credit as long as you meet the other criteria.
Read more at the Directgov Wesite http://bit.ly/AoObiT