Does redundancy affect tax credits

Gingergal38 · 27 January 2017 at 7:26PM

Since April last year i have been on unpaid leave (sabatical). As i wasnt earning i notified tax credits who adjusted the award accordingly.
I am going to be made redundant in 28rh Feb 2017 and im.just wondering if the redundancy payment will show on my p60 as earnings which will then affect my twx credit.and end up with me possibly having to pay back.
I have also been claiming carers allowance because.i care for my son and again if these earnings show it could affect this and i have to pay monies back.
I would like some advise about this please

no1catman · 23 February 2017 at 2:22PM

Your redundancy payment won't count, but any PILON amount will.

But to get it, you need to be working - it is after all called a 'working tax credit'. I remember, when I was made redundant it took me about five months to find new employment, but when the tax credits restarted for the balance of months left in the tax year my credits were extra high.
HTHs

SamDude · 23 February 2017 at 4:50PM

Any redundancy over £30k will be taxed as earnings.

Does redundancy affect tax credits

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