Confused by tax credits

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Comments

  • densol_2
    densol_2 Posts: 1,189 Forumite
    Batman_100 wrote: »
    Thank you. This wouldn't trigger a fraud investigation or anything like that would it?

    No just explain its all confusing, have all the figures to hand and they can work it out from there
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  • Batman_100
    Batman_100 Posts: 180 Forumite
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    densol wrote: »
    No just explain its all confusing, have all the figures to hand and they can work it out from there

    Thank you very much.

    I'll have another look at my P45's, do some calculations and give them another call.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
    As I said previously, the claim form doesn't ask for your income for this tax year.
  • Icequeen99
    Icequeen99 Posts: 3,775 Forumite
    Darksparkle wrote: »
    As I said previously, the claim form doesn't ask for your income for this tax year.

    DS is right - the claim form only asks for 1 income and that would be your income for the 15/16 tax year.

    The only way to give an estimate of income for the current year is to phone them and they would then re-calculate the award.

    It is your total income for the year your need to give them, not just from when you applied.

    And to answer your question - your entitlement can only run from when you started work as before that there is no entitlement. WTC only claims are not normally backdated automatically.

    When you get the award notice it should say the start date and end date on the front page. Have you got a notice yet?

    IQ
  • Batman_100
    Batman_100 Posts: 180 Forumite
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    Icequeen99 wrote: »
    DS is right - the claim form only asks for 1 income and that would be your income for the 15/16 tax year.

    The only way to give an estimate of income for the current year is to phone them and they would then re-calculate the award.

    It is your total income for the year your need to give them, not just from when you applied.

    And to answer your question - your entitlement can only run from when you started work as before that there is no entitlement. WTC only claims are not normally backdated automatically.

    When you get the award notice it should say the start date and end date on the front page. Have you got a notice yet?

    IQ

    Thank you.

    So will my award notice arrive in the post soon? Do you think I should wait until I've received that before calling them to query it?
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
    Call them ASAP to tell them what you expect to earn this year.
  • Batman_100
    Batman_100 Posts: 180 Forumite
    First Anniversary First Post Combo Breaker
    Darksparkle wrote: »
    Call them ASAP to tell them what you expect to earn this year.

    I'll give them a call tomorrow evening and try and get it sorted.
  • Batman_100
    Batman_100 Posts: 180 Forumite
    First Anniversary First Post Combo Breaker
    Darksparkle wrote: »
    Call them ASAP to tell them what you expect to earn this year.

    I've called HMRC and they've suggested I update my personal tax account online to give a more accurate estimate of my earnings for this tax year. I'm now in the process of doing this.

    But I still have a couple of questions to ask:

    My current employment contract runs until October 28th, but my employer is currently saying they have enough work to keep me on until the end of February and possibly longer than that. So when calculating my estimated income for the 2016/17 tax year, should I only include my income up until 28th February, or assume I'll still be in work earning the same rate of pay until the end of the tax year?

    Also I'm due to get a pay rise in 6 weeks time once I've been in my job 12 weeks. Do I need to include this in my estimate income for this year?
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
    I would provide an estimate based on working until the end of the year. You are always best to overestimate to avoid overpayments.

    And yes you would need to include the pay rise as it falls in this tax year.
  • Batman_100
    Batman_100 Posts: 180 Forumite
    First Anniversary First Post Combo Breaker
    Darksparkle wrote: »
    I would provide an estimate based on working until the end of the year. You are always best to overestimate to avoid overpayments.

    And yes you would need to include the pay rise as it falls in this tax year.

    Thank you. I've recalculated my estimated total earnings for this year, updated my online tax profile, now I've just got to wait for HMRC to get back to me.
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