New tax rules affecting working tax credit/Child benefit
Does anyone know how the new rules will effect how income will be treated for child benefit etc.
My husband and I both earn £15k each outside of our property income. Neither of us can work full time and earn more than this due to health problems and having 4 children.
Our property turnover is approx. £70,000 with mortgage interest costs being £55,000.
Not only I am concerned about the affect this will have on our profit which we need in order to keep our own roof over our head.
But I'm also concerned about working tax credits and child benefit if our income is deemed as £100,000 instead of the true figure being £45k shared.
Does anyone know? I can't seem to find any information on this?
Also worried for our tenants as If we sell they all fit into the 'can't rent from letting agents' or get a mortgage.....they will all be homeless as we let to them all based on trust so far been incrediably lucky
Thanks in advance
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