I wonder if anyone can help me. We are a family of 5 with a severely disabled child. I receive a wage of £34,000 plus I work a responsibility payment at work which equates to approx £550 a month. This takes my wages to approx £40,000 a year. My wife is a sahm who receives carers allowance for our oldest child. There is no other income. We receive the child element, the disability element, and the basic family element. This equates to about £12000. It is reduced, due to my income to about 3700. (they deduct about £8792 due to my earnings). This has brought our tax credits to approx £60 a month paid to us. My question is, if I give up my responsibility at work and return to just doing my main job at about £34,000 a year, how much are my tax credits likely to rise by. There have recently been promotions at work and many people who receive FTC didn't apply as they said they would not gain anything. If I knocked the responsibility on the head, how much would I be likely to be better off or lose out on?
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