Tax Credits calculator

BOBS

Went onto the tax credits calculator on HMRC site.
Put in our current details and the total figure they say we should be getting based on our incomes works out to be £80 less per week than what we are actually getting .... I have checked and rechecked that they have the correct information on us as I dont want to be faced with paying back large amount of money.
Can someone tell me if their calculator is that far out - I know it is only to give you a rough idea but its out by £80 a week for us .....
Thanks

shell_542

The amount the calculator gives is based from this date to April. Did you factor that in?

BOBS

Yes Shell worked it out that based on remaining 22 weeks from now to April. So worried i have just rang helpline. They say my tax credits based on last years final income (which was exceptionally low due to hubbie being unemployed) - they do have the figures for this years income 2010/11 but they say the tax credits we are getting are based on last years income . I explained i am really worried that i will have to pay a huge amount back but was assured that I am getting correct amount.
Does this sound correct ??
Thanks .....

shell_542

Yeah it does. Same thing happened to me a couple of years back. I took the persons name, wrote down the time and date of re call and asked them to repeat again I would not be overpaid, just for the records, as if I was overpaid i would have rang and demanded them to listen to the phonecall again! Lol

BOBS

Didnt catch his name ......
Thanks for posting Shell - i would hate to be stung for repayments. Just seems to good to be true etc ......

delboysmith

You do realize there is a thing called income disregaurd, This means you can earn an extra 25000 extra without it affecting you in the current year. Only affects next years payments. If you check you latest award notice it should show your payments are dropping in april 2011 and that will reflect this years income

Please note this 25000 is changing next year to 10000 then in 2012/13 to 5000 so people need to be more careful in the future