Tax Credit Warning. Are you getting the cash you're entitled to?

DAVEY1979

K.Maidment wrote: »

Hello,

did you know it is very hard for the self employed to get the correct tax credits. We only have our books certified once per year so we only know once per year how much we have earnt. If the tax people have overpaid they can claim back for the whole year BUT if we have been underpaid we can only claim back for three months!
This year I made sure I overestimated my earnings as I would rather be underpaid than overpaid and have to struggle to pay back. I am sure that this is not in the spirit of why this system was set up. Why can't I claim back for the whole year?

K.Maidment

If you over estimate you earnings and you dont recieve the correct entitlement for the previous year i.e a under payment then once you complete your renewal this will all be paid back to ensure you recieve your entitlment. The 3 month rule only applys to changes in circumstances, for example your child is born 01-01-09 but you dont make the change until 01-04-09. When this happens the claim will only be back dated 93 days automatically, you can request backdating further in writing by providing details of why it should be backdated further. Hope this helps

DAVEY1979

mandij30 wrote: »

What if it shows a shortfall between the last 2 years.
For example my 2007/2008 p60 states my earnings were £6109
Yet my 2008/2009 p60 states my earnings were £5568

Would I be entitled to claim that back the £541 difference ?
I looked at my new award and it doesn't mention anything on there with regards to this.

Any help is appreciated
Thanks in advance

tax credits wont replace your loss in earnings, for example if your 07/08 earnings were £6109 then when your claim was calculated for 08/09 this figure would have been used and you would have recieved a amount based upon this. when you renewed your claim with your 08/09 p60 earnings of £5568 your 09/10 tax credit claim will be worked out based on this figure, usually meaning your will recieve slightly more than the year before because you earnt less. At no point will you recieve a short fall through tax credits, tax credits is only to boost your income and not replace it.

AirlieBird

MSE_Wendy wrote: »

Tax Credits are money paid by the government via the Inland Revenue

The Inland Revenue hasn't existed for 4 years.

pj#_2

yeah. its best to call a spade a spade. the Inland Revenue merger with HMRC caused enough confusing for claimaints as it was. as well as the whole system being a shambles anyway :mad:

for all those of you who have been overpaid tc, please know you DO have rights to dispute repaying the overpayment.

i'm not sure of this forums policy on posting links, so i will just say; google Tax Credit Casualties for more info.

DEBT_23

i was told i didnt qualify, im 25 work 40hrs a week on £17133 a year, my gf lives with me and we have a 16mth old baby. mortgaged house.
my partner doesnt work, she claims child tax credit and child benefit

melorablack

5 more years until my partner and I can claim working tax credit We're both 20, live together, are earning a gross income of around £30,000.00 between us and work 40 hours a week each.

Why is the threshold 25?

Do people over 25 spend more than those under 25? Do I not work as hard as those 5 years older than me?

Or is it just another thing to help those who went to university whereas those of us who didn't have to fend for ourselves :rolleyes:

kelloggs36

On a gross income between you of 30k you will get nothing I'm afraid.

seeya23

kelloggs36 wrote: »

On a gross income between you of 30k you will get nothing I'm afraid.

you will not get a penny

seeya23

pj# wrote: »

yeah. its best to call a spade a spade. the Inland Revenue merger with HMRC caused enough confusing for claimaints as it was. as well as the whole system being a shambles anyway :mad:

for all those of you who have been overpaid tc, please know you DO have rights to dispute repaying the overpayment.

i'm not sure of this forums policy on posting links, so i will just say; google Tax Credit Casualties for more info.

here it is https://www.taxcc.org

sheilavw

Hi we get the £545 a year. At the end of June I got a letter saying that the entitlement would stop July because our daughter is 16. Payments until this date would be £9.85 a week (last year was approx £10.22 ) I contacted them on the 1/7 to confirm she would be staying in full time education. The gentlemen said would sort it out. I havent had any confirmation and the amount is still £9.85, I know its only approx 40p but wondering if he has actually put it through. Would the amount stay the same? Should I not have had some postal confirmation?