Gross or net pay?

truescot

Due to a recent house move and a new baby, I have only just got round to checking all the paperwork we got for our Child Tax Credit and there are a few issues I would like advice with as i don't want to end up paying anything back...

Firstly, my estimated income for the year to April 2009 was 34k but my actual was 41k due to LOTS of night shifts (new baby you see!). However the figure on my P60 is about 38k (the one that the P60 says should be used for tax return). Is this the one I give the Tax Credit folk when I phone with my change of income?

Second, my wife is self employed, do I give them her GROSS income or NET PROFIT, as there is a HUGE difference due to her just having started out.


Anyone know how much a difference of up to 10k in total would have on our award? (Gulp!!)

Thanks

shellsuit

If your actual wage was 41K gross, then that's what you should use.

Same again, your wife should give the gross figure to TC.

catenorfolk

i think it actually says on the forms figures before any deductions!!

Jules

Gross pay for your wages.
For your wife's self employment the figure used is total money in less total money out (expenses etc) but before tax and NI is paid on it. That's the way they explained it to me yesterday.

HTH
J