What is the most you can earn (upper limit) for claiming child tax credit,before it's taken off you for earning too much money?
2007-02-26 02:09:20 · 4 answers · asked by Mea 5 in Business & Finance ➔ Taxes ➔ United Kingdom
Hi, I think the upper limit is between £30,000 - £35,000, not absolutely sure on that one tho, but have put their website below for you, that will give you all the info you are after
http://www.taxcredits.inlandrevenue.gov.uk/HomeNew.aspx
2007-02-26 02:26:33 · answer #1 · answered by Piggy56 4 · 0⤊ 0⤋
I'm not sure about there being and upper limit its more about the hours you work if you are only receiving child tax credit you probably work 15hrs or less if you go over that then you should be claiming working tax credit as well they don't take it off of you unless you're earning MEGA amounts also bear in mind that you can claim the cost of child care etc
2007-02-26 10:20:56 · answer #2 · answered by wise1 2 · 0⤊ 0⤋
why do you care! You'd still need that child care, besides IRS won't take 100% of your earned income...just enough to hurt...and keep you wide awake and scrambling for more income. It's a win win situation dear. The more money you earn, the more taxes for the government...up to a point. Once you reach your millions, the tax gets better and the cost of child care becomes negligible.
2007-02-26 10:17:11 · answer #3 · answered by McDreamy 4 · 0⤊ 1⤋
i think you would start to claim family or working tax credit then
2007-02-26 10:13:41 · answer #4 · answered by Anonymous · 0⤊ 1⤋