Tax credits calculator. #free #credit #re

#credit calculator

Tax credits calculator

Get an estimate of how much in tax credits you could get in total, from today’s date to the end of the 2015 to 2016 tax year. You’ll see your result as a lump sum.

You’ll need details of:

  • your income
  • your partner’s income
  • your working hours
  • any benefits you’re claiming, or have just stopped claiming
  • the average weekly amount you spend on childcare

Who can’t use the calculator

Contact the Tax Credit Office if you’re both:

  • in a couple and either of you is subject to immigration control
  • not responsible for any children

If your income is likely to drop this tax year

The calculator asks you for your income for the last tax year. If you think your income will go down by more than £2,500 this tax year:

  • take your estimated income for this tax year
  • add £2,500 to it and use this figure instead

This is because the Tax Credit Office ignores the first £2,500 of your income drop, but the calculator doesn’t.

Example Your income for the last tax year was £30,000. You think your income will drop to £20,000 this tax year. Enter £22,500 into the calculator.