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WTC next year
50Twuncle
Posts: 10,763 Forumite
As a part time disabled worker (earning minimum wage and lucky to find any work at all) - I claim WTC - based on last years income (when working full time - earning decent money) - I was wondering how WTC were calculated for next year - if it is based on this years income (obviously low) or the previous but one year - or is there some other variable brought in to the calculation ?
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Comments
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Tax Credit awards are always calculated based on the previous year's income (financial year).
If you expect your current year's income to be much lower than the previous year it is possible to have your award reassessed based on an estimate of the current year's income.
Hope this helps“Verified Representative
I'm the verified Turn2us representative. We run the Turn2us benefits calculator and help people in financial need access the money available to them – through welfare benefits, grants and other financial help. MSE has given permission for me to reply to queries about the company, so I can help solve issues. You can see my name on the verified companies & organisationst list. I'm not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0 -
Turn2us_Representative wrote: »Tax Credit awards are always calculated based on the previous year's income (financial year).
If you expect your current year's income to be much lower than the previous year it is possible to have your award reassessed based on an estimate of the current year's income.
Hope this helps
So - at the moment - I get about £250 per month WTC (based on last years income) - if I carry on earning minimum wage for the forseeable future - will my WTC (based, presumably on this years income) drop ?0
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