Child Tax Credit Update

Yesterday the new goverment held an emergency budget - I thought it was worth posting this information about Child Tax Credits as it was not reported widely on the news.

From 2011 only families earning up to £41,329 will receive the benefit. From 2012 that will be reduced to £23,275.

Currently you can have a combined income of up to £58,000.

This is a huge drop which will affect more families that initially thought.

This along with the rise in VAT is going to have a massive impact on working families.