Tax credits

bigdec

Just a quick one when a person starts a new job how long before they have to advise the tax credits about the change . I remember them saying somthing about it in the last budget but I cannot remember.


:j :j :beer: :j :j

Wonder_Girl

As soon as you can, they ain't the quickest and it takes em a while to actually do anything...

bigdec

Wonder_Girl wrote:

As soon as you can, they ain't the quickest and it takes em a while to actually do anything...

What would happen if i delayed it a couple of months

beanielou

Basically , either you would owe them money OR they could owe you-depends on if your income goes up or down.
You are much better to notify them as soon as poss & confirm it in writing as well(Im a CAB advisor so see it all!!)

all_hours

How much difference will it make to your annual income? If it's less than £2500 I don't think you'd end up having to pay back over payments. This is a thread on the benefits forum.

http://forums.moneysavingexpert.com/showthread.html?t=52473

earwig

i phoned them up to tell them that are money had gone up and was told as long as it didnt go up by 25 K nothing would change this year but when my review comes up in aprill i must tell them then and the money would be adjusted but if it hasnt gone over 25k then they wouldnt seek overpayments hope this helps

bigdec

earwig wrote:

i phoned them up to tell them that are money had gone up and was told as long as it didnt go up by 25 K nothing would change this year but when my review comes up in aprill i must tell them then and the money would be adjusted but if it hasnt gone over 25k then they wouldnt seek overpayments hope this helps

Hopefully I qwill be starting a new job in sept/oct and the wage's for me and my OH will be approx 16000k welll under the 25k but my prospects should change after the 1st year for the better a lot better.

:beer: :j

bigdec

beanielou wrote:

Basically , either you would owe them money OR they could owe you-depends on if your income goes up or down.
You are much better to notify them as soon as poss & confirm it in writing as well(Im a CAB advisor so see it all!!)

In 2004/2005 combined wages 22000k with other half in 2005/2006 combined wages as the wifes is the only one working as I was made redundant 6500k . The tax credits are aware of this . Hopefuly I will be starting a job in sept/oct but the combined wages would be approx 16000k .
:T :beer: :T