Tax credits help
Farmerswife
Registered Posts: 6 New contributor 🐸
Does anyone know when the new income ignored limit is taken into account? in 2010/11 its £25,000 and then 6th April 2011 it drops to £10,000. So the tax credits my client is receiving this year are based on the previous years income (2009/10) and then when the annual renewal is competed by july 2011 is the income ignored £25k or £10k ie can he earn upto £25k more this year and still received the tax credits based on the lower income of the previous year.
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Comments
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I take it to mean that if the 2010-11 income is up to £25k more, it's disregarded and that if the 2011-12 income is up to £10k more it's disregarded.
However I don't know, and do need to find out for sure...0
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