From: Freda 
Newsgroups: uk.finance
Subject: Re: when/how do I claim Child tax credit for 2004/05?
Date: Thu, 5 Feb 2004 16:07:10 -0000

Ian Diddams said

> Looked at applying for childrens tax credit (or whatever its called)
> for year 2003/04 about a year ago.  Because of being ltd co. director
> (?) basically the tax credit for 2003/04 was to be based on income for
> the year 2001/02 - which being very good and me being a 40% tax payer
> that year meant I could not claim any CTC for 2003/04.  No problems -
> it will eventually come out in the wash presumably in a later year.

It doesn't quite work like that.

While the original award for 2003/2004 would be based on your income 
2001/2002, what you are *actually* entitled is directly related to what 
you really earn in 2003/2004.

You therefore have to notify them of changes of circumstances and 
changes of income so they can adjust as you go - and if you receive too 
much you will have to pay it back...

-- 
Human beings, who are almost unique in having the ability to learn from 
the experience of others, are also remarkable for their apparent 
disinclination to do so. - Douglas Adams -