Child Tax Credit

[micz8]

Hi
Could anyone guide us with this
1. Our (me and my wife) household income was £32000 from 5 April 2014 till 5 April 2015.
After that it has gone down.
We want to claim child tax credit for our children but when we put the earning in tax calculator it does not award anything. Its because the tax calculator ask for the income till 5 April 2015
Please advise what shall we do?

[Bunny82]

It's best to give them a call. The online calculator isn't completely accurate and doesn't take other circumstances into consideration. You will be asked what the previous year's income was, but you can also say that your income is decreasing this year and they will adjust it accordingly. If you want to get a rough idea of your award, put in the figures you expect for this year (as the 14/15 income).

In short, this year's award is based on the assumption that your income will be the same as last year. As that isn't the case for you, they will use your new figures as an estimate.

It's also worth noting that they only allow for changes that are greater than £2500.

Hope that helps.

[micz8]

Thanks for your reply

But i am unable to understand : " It's also worth noting that they only allow for changes that are greater than £2500."

[Bunny82]

Thanks for your reply

But i am unable to understand : " It's also worth noting that they only allow for changes that are greater than £2500."

If a decrease or increase in income is from £0 to £2500, then they do not change the award. Only amounts of £2500 or more affect the claim.