WTC change of circs do they need to know?

GhostHunter_3

Hi

My husband and I were just self employed a few weeks ago and recive Working Tax Credit on the basis that I work 40 hours a week on a joint claim basis on a very low income (almost non existant). We rely on Tax credits to pay most of our household bills at the moment.

However last week my husband started part time employment hes paid by cheque weekly, hasnt been asked for his P60. He works 5 hours a day 5 days a week. His income is £5.5o an hour so in effect not a lot has changed in the eyes of WTC people, but to us our income has increased!

Do I really need to tell them these change of circumstances? I dont want to be caught with overpayment and having to pay them back thats why im asking.

Thanks

Heddwen

C_Ronaldo

id inform them

Miss_Money

well. you need to tell them as you will be made to pay back any overpayments. better to tell them and sort it out now then be really struggling later on imo. When you have to fill out your yearly tax credits information, itll tell them you have been overpaid.

System

You have to inform them immediately of any change in circumstance which can affect your entitlement. The government have stipulated that that is your responsibility as a claimants.

If you don't then you can end up with an overpayment which they will try to recover from next years entitlement if it is big enough and if your cliam is still running.

Jet

If you expect your joint income to increase by more than £25k this year (ie. April 06 to April 07) than last years income (april 05 to April 06), you need to inform them.

pennypinching_2

Between now and the end of the tax credit year you will have had approx £2500 additional income. They will give you brackets saying you dont need to tell them if you earn above or below a certain amount. That is only because they are small amounts that they wouldnt re-calculate at that time. But come the end of the year if you have had any additional income over and above what you original stated, they will ask for it back. So if the £2500 is within the bracket you wont need to tell them, but they will deduct it from next years entitlement.