Personal Circumstances Changed

The_FD

Hi,

We have 2 children aged 5 & 3. We were receiving £10.27 per week and £132 a month in Child Benefit. But my circumstances have changed and now I earn over £66,350. I have declared this and have been informed that from money I recevied last financial year I now owe £547.50. Is it correct that I will now recieve nothing? And can I arrange to pay back £547.50 over a period of time or will the Inland Revenue demand the payment as one fee?

CMAC_2

The_FD wrote: »

Hi,

We have 2 children aged 5 & 3. We were receiving £10.27 per week and £132 a month in Child Benefit. But my circumstances have changed and now I earn over £66,350. I have declared this and have been informed that from money I recevied last financial year I now owe £547.50. Is it correct that I will now recieve nothing? And can I arrange to pay back £547.50 over a period of time or will the Inland Revenue demand the payment as one fee?

you making no sence are you the PWC or nrp. you earned £66.350 and now owe 547.50 ?

Zara33

CMAC wrote: »

you making no sence are you the PWC or nrp. you earned £66.350 and now owe 547.50 ?

I think this sounds like child tax credits not child support.

The_FD

Zara33 wrote: »

I think this sounds like child tax credits not child support.

Yes you are correct - I have posted in the wrong place. Can one of the mods please move this to the correct place. I am talking about tax credit not child support.

LizzieS_2

The_FD wrote: »

Hi,

We have 2 children aged 5 & 3. We were receiving £10.27 per week and £132 a month in Child Benefit. But my circumstances have changed and now I earn over £66,350. I have declared this and have been informed that from money I recevied last financial year I now owe £547.50. Is it correct that I will now recieve nothing? And can I arrange to pay back £547.50 over a period of time or will the Inland Revenue demand the payment as one fee?

Tax credits are only payable below a fixed income, as your earnings are higher than the maximum income allowed for tax credit payments, you will not qualify for any tax credits.

Normally overpayments are taken from future payments, but as you do not qualify for future payments you will get a bill for the total overpayment. You will be expected to pay the bill more or less immediately. You can phone to negotiate payments over a longer term, but you will have to show you cannot afford to pay in one go.