help please!

moneypanicker

Please can someone explain how to work out tax credits entitlement. I think i've had an underpayment and going throught paper work it doesn't make sense and what i've found on internet doesn't tally with what hm say i'm entitled to. Help please. Thanks

KeaneFan10

How much do you earn and what are they currently paying you ?

moneypanicker

Thanks!
I usually only get basic amount but when ringing them last year with final amounts they asked for estimated income. As i was on mat leave for most of last financial year my income was considerably lower. Feeling a bit on the spot i gave a rough estimate of £31743 based on this amount they wanted to give us £3827.76:eek: I thought this was way too high as have never qualified before. I rang them several times and they insisted yes it was right as now i have 3 children the threshold had changed or something.

Anyway i was worried so rang and changed my amount so that we were only entitled to basic element + baby for rest of year total 926.20.

Anyway i've just worked out total for year and it's £32379 so not far off what i originally thought. I've tried on line tax calculators etc but all give different amount and i cannot work out why they originally tried to give us 3827. I have 3 children baby element worked out as £375 for last financial year. Don't have childcare costs as we use vouchers.

Thanks i'm hoping someone may be able to decipher this!

moneypanicker

*bump*

Can anyone advise please?

Caz3121

here are the entitlement tables
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCreditsandChildBenefit/TaxCredits/peoplewhohelpothers/Entitlementtablesfortaxcredits/Youworkandalsohavechildren/DG_174787

if you look at 3 children with 1 under 1 then it may explain how they got to that number...which appears to be about right