tax credits overpayment?

[hazzabeanie]

will i owe money?

last year i gave my sum on my p60 at my renewel
and now ive just got my new p60 and its more than last year?

i never estimated as i didnt want to get wrong so wil i owe money? xxx

 

[Harveysmum369]

They should have asked you for an estimate of this years earnings at last renewal..I didn't think you could do it without? xx

 

[hazzabeanie]

i dnt remeber them asking for one as i didnt no what it would be? xx

 

[kaylynn040485]

no they will normally then average out your payments for the coming year meaning your payments will go down, thats normally how they do it if it used an extremely large amount. If you dont mind me asking how much were you out by? Just because my oh's earnings were out by £2000 this year but it only changed the payments by £200 over the year so dont be too worried Kx

 

[hazzabeanie]

I'm not sure as I can't find last years p60 it's just my oh has done more overtime this year and I just no it's more than last I ne we phoned them as I didn't want to give an estimate and it be wrong and then owe money, I'm also worried as as of next month my hours have been cut to 2 days instead of 3 will I need to tell then so I can have my award changed as I'm going to struggle with money xxx

 

[dizzybella]

in short u are likely to hav incurred a small overpayment but if ur still claimin then the other girl is right- it'll just be balanced out and deducted gradually from this years entitlement. If u estimate that this tax years earnings are going to be less than last years u need to ring and let them know as this cud increase ur current entitlement. This applied to me cus i'm taking maternity leave this yr so will hav a lower P60 next april than the one i just got so they increased my payments a bit

 

[Blah11]

Maybe but they just take it out of youe monthly allowance anyway.