Child tax credits 2018 – has the amount gone down, when do I receive my payments and does everyone get it?
The Government is aiming to find £1.2bn by 2020 with this cutback as it tries to reduce the country’s national debt
HUNDREDS of thousands of parents across the UK have been affected by a shake-up of how you can claim Child Tax Credit.
Since Thursday, April 6 2017, some families in Britain and Northern Ireland have seen changes that mean they are claiming less.
Has the amount for child tax credits gone down?
Before the changes last year, a family could claim child tax credit - which is worth up to £2,780 per child each year - for every child in their household.
But this has now changed so only two children can be claimed for.
The Government is aiming to find £1.2bn by 2020 with this cutback as it tries to reduce the country’s national debt.
Yet limiting child tax credit payments to the first two children in a family will push 200,000 kids into poverty, a study claims.
Child Poverty Action Group said it was damaging to kids’ life chances.
What benefits can I still claim?
The changes only apply to families with a third child born after April 6 2017.
So if you have children born before this you can continue to claim for three or more.
But if a fresh claim is being made you cannot claim for the third kid.
Exemptions to the changes are for those adopting, involved in kinship care and with multiple births or children born after rape.
The Government is also removing the family element, which is a payment of £545 for a newborn first child.
But parents of children born before April 6 will still get this.
When do I get my Child Tax credits?
People can choose whether to get their credits weekly or once every four weeks.
If you are processing a new claim it can take up to five weeks for the claim to be processed and you will be notified by post about the date of your first payment.
Payments may be earlier if they are ahead of a bank holiday.
You will get your payment every week or every four weeks from the date of your claim up until the end of the tax year unless your circumstances change.
Does everyone get Child Tax credits?
Child tax credit is available to people who are responsible for a child under 16 or for a child under 20 who is in certain types of training or education such as vocational, foundation qualifications or A-levels or highers.
Your eligibility and what you get depends on your income and childcare costs.
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Up to £2,780 can be claimed for each child per year.
For example, if your total household income of less than £35,000 and you have two children you could be make a claim.
The income threshold for one child is less than £25,000.