Tax Credit Changes from April 2011
The emergency budget on 22 June set out several substantial changes to the tax credit system. Some are straightforward; others less so.
Below, are those changes coming in from April 2011 under the following headings, explaining what each means and who might be affected:
- Increases in rates and thresholds
- Withdrawal rates
- Family element withdrawal rate
- The baby element
- Older workers
- Disregards
Checking Out The Benefit Changes
With all the changes starting to kick in from last year’s budget, it can be hard to figure out what’s happening and when but more importantly how it will affect you and your family. So many people arrive at Confessions of a Single Mum through search terms like..
- What are single mum entitled to
- Single parent changes to benefits
- Budget single mum changes
- Tax credits single mum
- Benefits single mum
Proposed Changes to CSA
Talking about the csa is never a fun conversation piece and especially now it’s causing a storm with new change proposals. Over at 2starsandaswirl there is a post about her campaign to stop the proposed changes. Please do stop by and support her.
So what’s the new csa changes proposed?
Read MoreChanges in Housing Benefit
As you all probably aware, things are a changing. One of the benefits that will be changing is Housing Benefit. The LHA rules are changing and they predict that most people will be worse off. The Benefit and tax rates for 2011/12 are likely to be confirmed in the March Budget. But if you want to know in advance if/how the new changes in Housing Benefit are going to affect you then you check yourself at HBupdate.com The site is free of charge and will tell you how next year’s changes to Housing Benefit will affect you. The site is from the Entitled To site which is now fronted by UK charity Turn2Us .
Read MoreJob Centres – Lone Parent Advisor Error
Being on income support as I was working under 16 hours and my youngest now ten, I was called into the Job Centre to update my details. The recent changes mean I can no longer be on income support, but this was no hardship as my work is getting busier and can now switch to being over 16hours a week.
Read MoreBeing Slightly Green Saves the Pennies Too.
Being a single mum means one of favourite words is save. Save as in electric, water, petrol, food …I try and save anything that will mean more for my money. But it’s starting to dawn on me that some of this saving is actually turning me a bit green. Now I don’t claim to be a full blown eco warrior of the sandals and hippy kind, but if I am saving money and doing a small bit for the planet then it must be good.
Read MoreChild and Tax Credits
The HM Revenue & Customs quote that 9 out of 10 families with children are entitled to tax credits. The basic requirement is looking after at least one child; you may qualify for Child Tax Credit. If you work more than 16 hours and earn low wages then you may qualify for Tax Credits as well. How much you get depends on things like:
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