slowpoke22
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- May 1, 2014
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Hey everyone 
Tax credits (again!) lol
Last year when I set up our claim, it was based on earning £11500 for the year. We actually ended up earning just over £5k. I did my renewal a week ago, and a friend of mine reckons I should get a lump sum because they would have underpaid me.
I called them on Saturday just gone, and the gent I spoke to (who was really lovely!) said renewal is currently captured and being dealt with. I asked the guy on the phone about the possibly being underpaid and explained everything above and he sat with all the numbers and worked it out for me, said I should expect a lump sum of a couple of grand, plus £350 as we are currently being underpaid working tax since 6th April due to renewal not being finalised as yet. We were on the phone forty five mins and he explained how he worked this out and said this is what the system will work out. He also said it hadn't updated on his screen yet but should in the next couple of weeks.
I asked him how he got the figures, and he said the following
* He took my estimated earning (£11500) and worked out what I was paid in tax credits for the year.
* He then took my actual P60 figure (£5600) and worked out what I SHOULD have been paid in tax credits for the year.
He came back with an underpayment of £2020.35 and said I should receive this as a lump sum. Since 5th April the working tax has gone down from £56 to £43 a week, and I asked about this. He said that the working tax was based on last years figures and theyve been weekly underpaying me the working tax and he said once finalised, I would also get a payment of £354 (current standing) because they'd have to backdate it.
I got all excited, then worried myself stupid yesterday thinking that I would go ahead and be happy and then get told that's wrong. So I called them again today to ask (yes I obsess) and they said I could play around with the entitlement calculator online and see for myself but to wait for the letter. Anyway I had a look online and its right, I was underpaid by £2k.
Do I take what he said as correct (I made him go over it three times!!) and get excited or do I be skeptical? WWYD?
Tax credits (again!) lol
Last year when I set up our claim, it was based on earning £11500 for the year. We actually ended up earning just over £5k. I did my renewal a week ago, and a friend of mine reckons I should get a lump sum because they would have underpaid me.
I called them on Saturday just gone, and the gent I spoke to (who was really lovely!) said renewal is currently captured and being dealt with. I asked the guy on the phone about the possibly being underpaid and explained everything above and he sat with all the numbers and worked it out for me, said I should expect a lump sum of a couple of grand, plus £350 as we are currently being underpaid working tax since 6th April due to renewal not being finalised as yet. We were on the phone forty five mins and he explained how he worked this out and said this is what the system will work out. He also said it hadn't updated on his screen yet but should in the next couple of weeks.
I asked him how he got the figures, and he said the following
* He took my estimated earning (£11500) and worked out what I was paid in tax credits for the year.
* He then took my actual P60 figure (£5600) and worked out what I SHOULD have been paid in tax credits for the year.
He came back with an underpayment of £2020.35 and said I should receive this as a lump sum. Since 5th April the working tax has gone down from £56 to £43 a week, and I asked about this. He said that the working tax was based on last years figures and theyve been weekly underpaying me the working tax and he said once finalised, I would also get a payment of £354 (current standing) because they'd have to backdate it.
I got all excited, then worried myself stupid yesterday thinking that I would go ahead and be happy and then get told that's wrong. So I called them again today to ask (yes I obsess) and they said I could play around with the entitlement calculator online and see for myself but to wait for the letter. Anyway I had a look online and its right, I was underpaid by £2k.
Do I take what he said as correct (I made him go over it three times!!) and get excited or do I be skeptical? WWYD?
happy days!
lol.
