Renewing Tax Credits

[LucyS]

I have left the form at home but would like to ring up today whilst at work and get the ball rolling...

I have the amount on my last p60 (08-09) is that all I need?

Does anybody have the number? Many thanks.

Also does anybody know if I will receive working tax credits if my last years wages were under 15k but I will have to tell them that this current year my earnings will go over 15k.

 

[Teel]

To renew your TC

They may ask for your 2007-2008 P60 details aswell as your 2008-2009. They will ask if there are any chages in your childcare/employment details.

The number is 0845 300 3900 and have your national insurance at the ready.

If your wages were under 15k, itl be calculated and anything owing to you, will be credited into your account. Its the same if your wages are over 15k- it will all be re-calculated accordingly.

Hope that helps

 

[LucyS]

Thanks a lot

My 07-08 P60 seems to be way out (I changed employers in this time and they seem to have given me a p60 with only earnings from 2nd employer) sureley it should be both? But I cannot work out if it is wrong or just me not remembering right (sorry so confusing!)

But as they base tax credits on the eyar before, if i earnt less than 15k last year but more than 15k this year what will happen?

Thanks again

 

[Teel]

Thanks a lot

My 07-08 P60 seems to be way out (I changed employers in this time and they seem to have given me a p60 with only earnings from 2nd employer) sureley it should be both? But I cannot work out if it is wrong or just me not remembering right (sorry so confusing!)

But as they base tax credits on the eyar before, if i earnt less than 15k last year but more than 15k this year what will happen?

Thanks again

Your P45 should have some earnings for the year. If you handed in your P45 to your recent employer, your P60 should include earnings from all previous jobs. Best to give the HR a ring if in doubt.

Yes your right, TCredits is always based on previous years earnings.

We're in tax year April 2009- April 2010
So, TCredits will be based on earnings April 2008- April 2009, taken from P60.

So long as you inform them of income changes- it will be adjusted by the system n your payments will do the same.

 

[LucyS]

Thanks! So really if my P60 for 07-08 is lower than what I actually earnt it wont effect what I will be paid and hence wont be getting more than I should and end up having to pay some back? Thats what Im worried about!


Thanks for yor help!

Next year my payments will drastically drop as Alfie will be over 1yr old and also will not get any working tax credits as earning over 15k