helppp with tax credits!!

ilovecows

Last year i gave an estimate of 6k as earnings for april 09-april 10 and my payments were increased from £58 to £85 a week
i get the disability element too as i am on DLA

however my income was only actually £3660 as i had lots of sickness absence.

i am now in process of filling in the renewal.

will my tax credits go up or down will i get overpayment or underpayment??

toonbaz

if your tax credits for 09-10 were based on an estimate of 6k and your actual 09-10 income was the lower figure then you should be entitled to higher payments this yr and possibly a lump sum for last yrs award.

themonkeybutler

If your planned income was 6k, thats below the threshold at which tapering begins anyway, so you shouldnt have any underpayment.

ilovecows

themonkeybutler wrote: »

If your planned income was 6k, thats below the threshold at which tapering begins anyway, so you shouldnt have any underpayment.

what does this mean?

Indie_Kid

ilovecows wrote: »

what does this mean?

They only go down after an income of over £6k. (can't remember exact figure)

Snakeeyes21

sh1305 wrote: »

They only go down after an income of over £6k. (can't remember exact figure)

its £6,420

ilovecows

the maximum tax credits u can get paid is sumthin like £101 per week so surely mine shud go up if i only earned that amount last tax year???
??

TaxCreditHelp

You say you had sickness absence last year... if you received Statutory Sick Pay this is also classed as Taxable Income and will need to be reported in your renewal.

And £101 per week is not the maximum Tax Credit award.

ilovecows

what is the highest amount received??

and i have included my ssp pay in my figure of £3660

Indie_Kid

That would depend on your circumstances as to what the highest amount is.

TaxCreditHelp

As sh1305 said your Tax Credit award does depend on your circumstances. I saw one combined Working Tax Credit and Child Tax Credit (with ChildCare) award recently which was over £35,000 for the year.