child tax credits question

saving123

Hoping someone might be able to advise me -

I have received my letter today saying what my tax credits are going to be for 2010/11. It says the amount to be paid then has a bit under it saying 'minus potential payment -this may change because we cannot work out the exact amount until your income and circumstances for the whole of the tax year are known. We will then make a final decision on the amount of your award and pay any amount we may owe you.

My husband is self employed so i am assuming this will be the reason for the above. If we earn the same as the income estimate we have provided will we get this additional amount (potential payment) at the end of the tax year? If we earn more I am assuming we won't get this payment, is there also a chance we will have to pay back some of the tax credit they have given us?

thanks in advance

saving123

can anyone help?

thanks

TotallyBroke

What it is saying that it will pay you the same amount as last year until you declare what you earned either by the end of July for employed people or January for self employed.
Once you have declared your earnings it will work out what your entitlement should have been each week. They will then deduct what they have already paid you, and what is left will be split for the amount of weeks that is left until the 5th April.

Hope that makes sense