Tax Credit Briefing discussion

KevinG

Murgatroyd21 wrote: »

As long as it was indeed a private pension and not your PAYE employers scheme, and you hadn't already made adjustments to your S/E income for it.

Well it makes no difference, except that in the case of an employer scheme the contributions will already have been deducted from the taxable income figure on the P60.

Murgatroyd21

KevinG wrote: »

Well it makes no difference, except that in the case of an employer scheme the contributions will already have been deducted from the taxable income figure on the P60.

Sorry, but I'm not sure what you mean here. It does make a difference.

If it's an employers scheme, you can't make further adjustments to the declared income figures. If it's a private scheme, you can reduce the declared income by the amount you pay in to the pension scheme.

KevinG

Murgatroyd21 wrote: »

Sorry, but I'm not sure what you mean here. It does make a difference.

If it's an employers scheme, you can't make further adjustments to the declared income figures. If it's a private scheme, you can reduce the declared income by the amount you pay in to the pension scheme.

You can declare whatever you like, it's just a matter of how you calculate it. In my case, the figure on the P60 is not what I declare because there are other adjustments that have to be made to it, for example the deduction of all Gift Aid payments. The tax relief is still the same, whether it's an employer or private scheme.

Murgatroyd21

katykitten wrote: »

i think i already may have done this online? they sent me the transcript when i appealed against their decision, ive been paying similar amounts into a private pension for the past few years..............does this mean they actually could owe ME money

If you don't declare all the information before the claim is finalised (usually by 31st January in the following tax year), you have missed the bus for reducing the income of that year.

If you call the helpline and explain you make payments into a private pension that you haven't deducted from your income for this year, they will update the details for you.

Smamfer

Question if i may oh knowledgeable ones.

Ill keep it basic

Earnings 2010-2011 11k i currently get £104 p/w tax credits
Earnings 2011-2012 approx 16k before tax

I have now had to leave that job due to transportation problems and family issues and will be working from home on a self employed basis, im hoping this will not be a long event for me as ive always worked and prefer to be out full time but right now just not possible.

Will be working approx 25-30 hours a week earning hopefully between £500-600 a month, i know this is under the nmw but its all i can do right now, so making a yearly earnings before tax of about £6k

Clearly my 2011-2012 earnings were higher thus making my payments in april drop down but will they use my new earnings when deciding on my payments for 2012-2013

Thanks v much in advance

katykitten

Murgatroyd21 wrote: »

If you don't declare all the information before the claim is finalised (usually by 31st January in the following tax year), you have missed the bus for reducing the income of that year.

If you call the helpline and explain you make payments into a private pension that you haven't deducted from your income for this year, they will update the details for you.

UPDATE
The transcript clearly says that i paid XX amount in to a private pension and that my earnings (employed) were YY, the tax office have obviously made a mistake as they have mixed up the two, so leading the powers that be to believe that i declared that earned 50% of what i actually did (during the phone coversation)- as they have made a mistake are they expected to now refund me any payments they have stopped over the past few months?

lcjlj02

As a bit of a tax novice Year 2010/11 I was a single parent to two young children and also a sales rep so salary varies from one month to the next. I notified them when I was only earning the basic wage and kept them informed when my salary changed. They have written to me with an overpayment of £6967.97, to which I appealed as I have kept them informed and they didn't act upon the information. They have today responded saying they feel they met their responsibilities as set out in Code of Practice 26 and I am to repay the money. Has anyone else had the same scenario and can offer some advice please?

katykitten

lcjlj02 wrote: »

As a bit of a tax novice Year 2010/11 I was a single parent to two young children and also a sales rep so salary varies from one month to the next. I notified them when I was only earning the basic wage and kept them informed when my salary changed. They have written to me with an overpayment of £6967.97, to which I appealed as I have kept them informed and they didn't act upon the information. They have today responded saying they feel they met their responsibilities as set out in Code of Practice 26 and I am to repay the money. Has anyone else had the same scenario and can offer some advice please?

i am in a similar position, they said its my duty to check the forms but my dad had dementia and died 2 weeks ago and i just cant deal with all this, they say they have to recover this money but i just cant face dealing with all this involves plus i dont have the money, i know they made a mistake but they are confusing me and i doubt i will have the energy to sort this out

KevinG

katykitten wrote: »

i know they made a mistake but they are confusing me and i doubt i will have the energy to sort this out

I think you should get in touch with Citizens' Advice Bureau for some help.

http://www.citizensadvice.org.uk/

KevinG

Incidentally, I don't think it's a good idea for people to keep posting queries on this thread, which was originally a discussion thread for an article posted nearly three years ago! You are likely to get a better response by starting a new thread for your specific query. Maybe this thread should be "locked" or whatever the equivalent is on these forums.