Tax Credit Overpayment HELP!!

zeryx · 10 February 2005 at 8:07AM

When they receive your application you are assessed to see what the maximum entitlement you can receive.

Then your gross household income is taken and used to apply a taper to that maximum. They first taper off the WTC, that ends at around £15,000 of income, then the CTC starts to taper off. They will continue to taper the CTC until your entitlement reaches the basic family element (£547.50 this year). It will then pay that out until the income reaches £50,000, then the basic family element is tapered off - that ends at around £58,000 of income. If there is a child under the age of 1 in the house there is an additional baby element for the first year, this means that the taper will not reach 0 until the income that year goes above around £68,000.

pj#_2 · 16 February 2005 at 11:12PM

hiya guys, this is an all too familar story, these are not isolated cases and in most of them it is not actually your fault.
some bright spark decided to set up a system that meant that we where basically 'gambling' on what our income would be, and the stake was the tax credit they gave us. please visit the website i set up, as it has recently just happen to me, to the tune of nearly £4000.
http://www.taxcreditoverpayment.pwp.blueyonder.co.uk/
it explains it all a bit more there.thank you and good luck