Tax credits again!!!

[FEDup1981]

Changes in your income

It’s important to tell the Tax Credit Office straight away if your income goes up or down. The amount of tax credits you get depends on how much income you have coming in.

If your income for the current tax year is expected to be less than last year, you may be entitled to extra tax credits.

If your income for the current tax year is expected to be more than £25,000 higher than income for the last year, you may get less tax credits.

If you expect your income for the current year to be no more than £25,000 higher than your income for the last year, it will make no difference to the amount of tax credits you will receive for the current year. However it’s still a good idea to let the Tax Credit Office know about the change as the increased income will be taken into account:

in the following year
for the payments made to you after April, but before you’ve renewed your claim
If you don't tell them until you renew your tax credits after the end of the year, they may ask you to pay back any money they have overpaid you.

This is a quote from the website.
I think our income may have been 3-4K higher last yr than originally planned. Does that mean cos its less than 25k, i wont have to pay it back. Only from april this yr if im over paid from this april?

 

[lorrilou]

from my experience thats a load of shite. even if ours has been a few grand more than previous years we've always had to pay it back. so i would presume you will too hun.

 

[FEDup1981]

thought as much!