anyone been fined by tc for not informing

peediedj

has anyone here been fined by hmrc for not informing of a change? i have gotten a payrise of £2600 per annum but wifes gonig to earn £2300 less this year,should we inform them or wait until april/ as yearly total wont be much more than expected,and if we dont inform them will they fine us??

cw18

as long as your estimated income for this year isn't more than £25k above last year and isn't above £50k (the point they start to reduce CTC) and they're basing you on last years income (ie. you haven't given them a figure for this year that's lower than last), then you're fine and don't need to inform them until you get the review pack.

ETA: Not so sure of the situation if you get WTC as well

peediedj

think its ctc i get for my severly disabled son,will probably end up earning £500-700 max more than 07-08,what happens if i got a letter from them before april,and they found out i was earning more without tellnig them would i get fined then?at end of the year the final income between myself+wife will be nearly the same as last year,even though i have earned more,shes worked sames hrs and earned less

cw18

everyone tends (historically) to end up with a bit more than estimated, due to annual 'cost of living increases' (please note I said historically - I think there'll be less of these in the future ) and the odd bit of overtime (probably even less of this in the future!).

so I wouldn't worry as long as hours haven't reduced and salary isn't way off.

peediedj

cw18 wrote: »

everyone tends (historically) to end up with a bit more than estimated, due to annual 'cost of living increases' (please note I said historically - I think there'll be less of these in the future ) and the odd bit of overtime (probably even less of this in the future!).

so I wouldn't worry as long as hours haven't reduced and salary isn't way off.

hrs havent reduced for me, wife occasionally works overtime,but usual hrs are the same most weeks