Child tax credit for a company director

[cosmic]

This is different to what I've read for Child Tax Credits - if your household income is £16,105 or below you'll get the maximum. Anything above this will reduce the amount received until you reach certain income limits which is different for the number of kids you're claiming for.

Child benefit is different - if you or your partner earn less than £50k a year, you'll get the full amount. Between £50,000 and £60,000 and it's a sliding scale. over £60k an you get nada.

Sorry yes was meant to refer to child benefit not tax credit! I think the op was referring to the same thing?

[Spoiler]

So the answer is no you get nothing if either of you earn over 50k and most build up money in company account and only pay themselves a modest salary+div.

This is different to what I've read for Child Tax Credits - if your household income is £16,105 or below you'll get the maximum. Anything above this will reduce the amount received until you reach certain income limits which is different for the number of kids you're claiming for.

Child benefit is different - if you or your partner earn less than £50k a year, you'll get the full amount. Between £50,000 and £60,000 and it's a sliding scale. over £60k an you get nada.

[cosmic]

Not really
It's in General and also have a look at the last lot of schemes he's thought up recently in his posting history.

Fair play. Yea I did find it odd that he placed it in the general section.

[northernladuk]

Bit harsh from people replying on this forum.

Not really
It's in General and also have a look at the last lot of schemes he's thought up recently in his posting history.

[cosmic]

Bit harsh from people replying on this forum. But for your info You need to earn less than 50k in a given tax year. That is for you or your partner to claim in ctc

That includes any form of income as you noted. Most take salary + div below 35k factoring in any other income and most if possible have other half as an employee or shareholder and she does some work in the business (back office stuff).

So the answer is no you get nothing if either of you earn over 50k and most build up money in company account and only pay themselves a modest salary+div.

[northernladuk]

Have you tried doing even a modicum of your own research or is this just another poorly thought out brain fart idea to rip HMRC off?

You know you need to have kids for this to work don't you?

[pscont]

Hi,

My income for the last year is based on the salary from the LTD, dividends, interest from banks savings and some income from rent.
Same for my other half.

I did a ChTC calculation, added all income, and it seems I can get some money.

Knowing most people here are on £8000 + divi, do you claim ChTC? Is this allowable - ChTC for a director?