Working tax credit - how is it worked out? Tried to government sites and they seem vague as to what wage?

thresholds and actual figures are involved?





Just want to be able to work it out myself and am lost in all the jargon - help!

Working tax credit - how is it worked out? Tried to government sites and they seem vague as to what wage?
It is unneccessarily and ridiculously complicated. Best to try an online calculator but as a rough guide the basic annual credit is about £1,730 and then you add other amounts if you have children, work 30+ hrs p/w, have a disability, are 50 or over etc.





This is then reduced by 37p for every £1 your income is over £5,225.





If you are married/living together you will claim based on joint circumstances.
Reply:It is made up of adding varies elements applicable to the claimant at the time of the claim. The elements are set figures and to many to list on here but include a couple rate, a single parent rate, a 30 hour element rate to name but a few





The calculation is then done using income from the previous tax year minus the above elements applied. The remaining figure is then multiplied by 37% to provide a tax credits award for the current year





It is far to complicated to explain anymore than this





if you just want to have a calculation done then go to www.entitledto.co.uk





For in depth calculation and element amounts go to the HMRC website and search for the tax credits worksheet
Reply:Are you single or a couple? I am single female earn £11000 per year and get £3.00 per week from working tax credit
Reply:have you tried this site:





http://www.taxcredits.inlandrevenue.gov....





it works it out for you
Reply:i dont even think the government department itself knows.Each case is supposedly dealt with on its merits without a fixed formulae.It is without doubt the most confused of all the tax / benefits there is and trying to work out your own entitlement is nigh impossible.
Reply:Here is a link .


http://www.direct.gov.uk/en/MoneyTaxAndB...