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Accurione

Child benefits question? Need some advice re: tax.

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Hi all :)

I've got myself a little concerned about income tax - I work part time and earn just under the basic tax amount - however after my second child I started claiming child benefits for both of them to help out with the finance, but this puts all the money I get into the basic tax amount according to this income tax calculator. Does that mean I'll be paying 20% tax on the money I make? I don't want to get the benefits if it loses me more money than I'd get from them. Can someone help me out here? Stressing out a little :(

Thanks in advance <3

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Hi Acurione, 

I did taxes for a year, I'm a little rusty, but maybe I can help.  (Please do not consider this professional advice.)

When you say "child benefits", what do you mean?  Do you mean the child tax credit?  Or some sort of welfare/state aid/food stamps?  Or something else?

Taxes are horrible.  They require you to be very, very specific about things, otherwise you end up with the wrong answer and end up paying the wrong amount.

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4 hours ago, Accurione said:

Hi all :)

I've got myself a little concerned about income tax - I work part time and earn just under the basic tax amount - however after my second child I started claiming child benefits for both of them to help out with the finance, but this puts all the money I get into the basic tax amount according to this income tax calculator. Does that mean I'll be paying 20% tax on the money I make? I don't want to get the benefits if it loses me more money than I'd get from them. Can someone help me out here? Stressing out a little :(

Thanks in advance ❤️

Your link is to a UK website are you not in the USA? 

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