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Working Family Tax Credit Calculations


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Attached document I give to all parents so they know how to access Childcare tax credits. I know it's a contentious issue and we would prefer funding direct, but at least when parents tell me they can't afford the non funded sessions I provide I can tell them this is part funded by WFTC.

 

 

Peggy

WFTC_INFO.doc

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Hi Peggy

 

Thanks for that - I have never really understood how this system works (luckily my boss handles all the finance).

 

I shall read and inwardly digest...

 

Maz

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Dear Peggy

Thanks for the document - however, the only thing I would say is that if you go onto the WFTC site you are able to input all your information and a calucaltion is made - but it is in my opinion 100% unreliable. I have done this using exactly the same information I have on my current claim and it calculates it competely differently to the amount I am currently getting and have been getting over the last few years - I think the difference is about £2000 per annum. When I phoned them to query this they said it was a very complex formula - so I then said well why bother putting it up on the website when it throws up so many inaccuracies - surely it must stop many people filling in the forms and applying for it. It really is a nightmare. I think there is an increasing/decreasing amount based on the childrens ages and by that I mean, 13, 14, 15 etc not just under 16's or over 16's - although I have never been able to get to the bottom of this.

I recommend to anyone that it is better to actually complete the handwritten forms to establish if they are eligible because I know the website calculations not to be.

Regards

Nikki

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