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  • FIRST POST
    • pbsmiles
    • By pbsmiles 13th Mar 17, 12:46 PM
    • 58Posts
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    pbsmiles
    Tax Credits Advice Please
    • #1
    • 13th Mar 17, 12:46 PM
    Tax Credits Advice Please 13th Mar 17 at 12:46 PM
    Hello

    I have never been in a position to claim, however last year I went part time and my earnings dropped so this tax year should product about 22k earnings. I have been sent through the claim form, can you advise me on the best tips when completing it and is there anything that i should look out for. The previous year I earned 33k so I need to really stress that my situation has changed.

    Thank you.

Page 1
    • Dazed and confused
    • By Dazed and confused 13th Mar 17, 1:31 PM
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    Dazed and confused
    • #2
    • 13th Mar 17, 1:31 PM
    • #2
    • 13th Mar 17, 1:31 PM
    Top tip: Read the notes

    Top tip 2:. Be accurate, particularly with details of last year's income

    Top tip 3: Expect your award to be based on 33000.

    Top tip 4: AFTER you have received your award advise tax credits of your current circumstances
    • Darksparkle
    • By Darksparkle 13th Mar 17, 1:35 PM
    • 4,182 Posts
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    Darksparkle
    • #3
    • 13th Mar 17, 1:35 PM
    • #3
    • 13th Mar 17, 1:35 PM
    If you don't know, ask. Don't try to guess.
    • pbsmiles
    • By pbsmiles 13th Mar 17, 1:36 PM
    • 58 Posts
    • 36 Thanks
    pbsmiles
    • #4
    • 13th Mar 17, 1:36 PM
    • #4
    • 13th Mar 17, 1:36 PM
    Top tip: Read the notes

    Top tip 2:. Be accurate, particularly with details of last year's income

    Top tip 3: Expect your award to be based on 33000.

    Top tip 4: AFTER you have received your award advise tax credits of your current circumstances
    Originally posted by Dazed and confused
    Why would I wait to tell them change of circumstance when its already happened?
    • Darksparkle
    • By Darksparkle 13th Mar 17, 1:40 PM
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    Darksparkle
    • #5
    • 13th Mar 17, 1:40 PM
    • #5
    • 13th Mar 17, 1:40 PM
    If you have a look at the form, it only asks you for last year's income.
    • Dazed and confused
    • By Dazed and confused 13th Mar 17, 1:41 PM
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    Dazed and confused
    • #6
    • 13th Mar 17, 1:41 PM
    • #6
    • 13th Mar 17, 1:41 PM
    Have you read the claim form?

    If so what income does it ask for?
    • pbsmiles
    • By pbsmiles 13th Mar 17, 1:42 PM
    • 58 Posts
    • 36 Thanks
    pbsmiles
    • #7
    • 13th Mar 17, 1:42 PM
    • #7
    • 13th Mar 17, 1:42 PM
    If you don't know, ask. Don't try to guess.
    Originally posted by Darksparkle
    What do you mean by this please clarify
    • andrewmp
    • By andrewmp 13th Mar 17, 1:45 PM
    • 1,511 Posts
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    andrewmp
    • #8
    • 13th Mar 17, 1:45 PM
    • #8
    • 13th Mar 17, 1:45 PM
    Hello

    I have never been in a position to claim, however last year I went part time and my earnings dropped so this tax year should product about 22k earnings. I have been sent through the claim form, can you advise me on the best tips when completing it and is there anything that i should look out for. The previous year I earned 33k so I need to really stress that my situation has changed.

    Thank you.

    Originally posted by pbsmiles
    Presuming you earn 22k this coming year, your claim will be based on 22k + 2500. For the purposes of tax credits, your income will 24,500. So i you want to work out roughly what you'll be entitled to, put your income in as 24,500.
    • Dazed and confused
    • By Dazed and confused 13th Mar 17, 1:51 PM
    • 1,264 Posts
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    Dazed and confused
    • #9
    • 13th Mar 17, 1:51 PM
    • #9
    • 13th Mar 17, 1:51 PM
    Disagree, the claim will be based on 33000.

    Op can then update income with tax credits and the revised claim will be based on current year income plus disregard.
    • Darksparkle
    • By Darksparkle 13th Mar 17, 2:08 PM
    • 4,182 Posts
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    Darksparkle
    Disagree, the claim will be based on 33000.

    Op can then update income with tax credits and the revised claim will be based on current year income plus disregard.
    Originally posted by Dazed and confused
    Correct.

    The initial claim will be based on 2015/16 as per the claim form and the OP will be required to contact HMRC once the claim has processed to report a change to 2016/17 income.
    • Darksparkle
    • By Darksparkle 13th Mar 17, 2:09 PM
    • 4,182 Posts
    • 2,669 Thanks
    Darksparkle
    What do you mean by this please clarify
    Originally posted by pbsmiles
    In answer to your question "can you advise me on the best tips when completing it"

    Do you have children or any disabilities?
    • pbsmiles
    • By pbsmiles 13th Mar 17, 2:36 PM
    • 58 Posts
    • 36 Thanks
    pbsmiles
    In answer to your question "can you advise me on the best tips when completing it"

    Do you have children or any disabilities?
    Originally posted by Darksparkle
    I have one child who is about to turn 18 but in full time education. How can they base the initial assessment based on a whole year ago finances when changes can happen and I can provide payslips to prove it. As my last pay is 20th March for the 2016/17 year is it worth sending that in with the claim?
    • Caz3121
    • By Caz3121 13th Mar 17, 2:46 PM
    • 10,354 Posts
    • 6,779 Thanks
    Caz3121
    If you read the responses you have been given, this is how it works
    as per posts 2, 9 and 10 you will get an award based on last years and THEN you contact them to give them your details for the current tax year
    (they will then add the disregard and base the claim on 24.5k - should be about 10ish a week)
    • Darksparkle
    • By Darksparkle 13th Mar 17, 3:23 PM
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    Darksparkle
    I have one child who is about to turn 18 but in full time education.
    Originally posted by pbsmiles
    Is it non advanced education?
    • andrewmp
    • By andrewmp 13th Mar 17, 3:25 PM
    • 1,511 Posts
    • 771 Thanks
    andrewmp
    Disagree, the claim will be based on 33000.

    Op can then update income with tax credits and the revised claim will be based on current year income plus disregard.
    Originally posted by Dazed and confused
    That's what I meant, which I suspect you knew.
    • andrewmp
    • By andrewmp 13th Mar 17, 3:26 PM
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    • 771 Thanks
    andrewmp
    Correct.

    The initial claim will be based on 2015/16 as per the claim form and the OP will be required to contact HMRC once the claim has processed to report a change to 2016/17 income.
    Originally posted by Darksparkle
    Aye, but if he wants to work out what he'll get then the claim will ultimately be based on what he estimates he'll earn this year + 2500. If he worked out what he was entitled to based on last year's income, he might not bother claiming at all, so it's best to know how they'll ultimately work it out.
    • Darksparkle
    • By Darksparkle 13th Mar 17, 3:33 PM
    • 4,182 Posts
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    Darksparkle
    Aye, but if he wants to work out what he'll get then the claim will ultimately be based on what he estimates he'll earn this year + 2500. If he worked out what he was entitled to based on last year's income, he might not bother claiming at all, so it's best to know how they'll ultimately work it out.
    Originally posted by andrewmp
    He'll get very little for 2016/17 so he's actually best to work it out on 22,000 as that's what his claim will be based on from April 6th.
    • andrewmp
    • By andrewmp 13th Mar 17, 3:34 PM
    • 1,511 Posts
    • 771 Thanks
    andrewmp
    He'll get very little for 2016/17 so he's actually best to work it out on 22,000 as that's what his claim will be based on from April 6th.
    Originally posted by Darksparkle

    I see, I totally misread the first post. I took it as meaning he was earning 33k until recently, not that his 16/17 earnings had already dropped to 22k.
    Last edited by andrewmp; 13-03-2017 at 3:37 PM.
    • Darksparkle
    • By Darksparkle 13th Mar 17, 3:37 PM
    • 4,182 Posts
    • 2,669 Thanks
    Darksparkle
    22,000 + 2500 surely?
    Originally posted by andrewmp
    For 2016/17 yes but we only have a few weeks left of that.

    2017/18 will be based on 22,000 (subject to any changes to 2017/18 income).
    • andrewmp
    • By andrewmp 13th Mar 17, 3:50 PM
    • 1,511 Posts
    • 771 Thanks
    andrewmp
    For 2016/17 yes but we only have a few weeks left of that.

    2017/18 will be based on 22,000 (subject to any changes to 2017/18 income).
    Originally posted by Darksparkle
    Had she claimed at the beginning of the tax year and (presumably) received a zero award, would she then have received more for this year seeing as the claim would already have been in place?

    If so, is everyone better off making a claim for tax credits, on the off chance you might end up qualifying due to a drop in wages?
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