Tax credit renewal - general questions (merged)

Pyncz

Hi! I was getting workings tax credit for year 2010/2011. In december I call theme to tell that I wark more hours. I told that earn about 15.000 this year so from January they stopped paying me tax credit. They said that if nothing change I will be overpaid 200pounds. But know I get p60 and I see that I earned only 10.400. Is that mean that I can still get money for year 2010/2011 from January to april??? And can I get tax credit for year 2011/2012?? Help me please!!??
Regards

lee789_2

I read HMRC have already run into problems with the new computer system that is supposed to adminster and monitor all new universal credit claims from 2013, and transitions for existing claims between 2014-2017. Apparently, this system will not be ready before April 2014, by which time HMRC will be so short staffed it is likely to be put back even further. After that, IF it even works (which must be subject to some scepticism given the reliability of other flagship Government computer systems), expect Labour to be in power and reverse a lot of the legislation that is causing so much concern and anger.

cocker100

Evening all,

I am after some advice as to how my new car leased through a company salary sacrifice scheme will affect my tax credits.

We have just taken delivery of the new car in the last month and the 1st payment has come off in my May pay. We have just received our annual tax credit claim form, so now need to declare this on the form. When giving my salary figures, do I use my total gross salary (before car payment), or gross salary after the car payment has come off?

The total gross amount we pay for the car is £340 per month, with the net effect on my take home pay being £295. This figure is calcaluted after income tax/NI adjustments and after BIK tax is taken off. (i.e. £340 minus tax/NI savings plus BIK tax equals £295)

The car is not used for work as I drive a company vehicle (van) for this, and we have to put all the fuel in the car ourselves at our expense, so there is no benefit to declare there.

Any advice would be greatly received.

Cheers,

Cocker:)

dseventy

You need to declare it to them on the form as a cash value or the taxable amount. Your employer will give you a P11D or P9D which gives the amounts to use on the form.

So yes, you have to declare it, bit only the taxable or cash amont of the benefit, your employer will tell you what this is.

More here :

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/Gettingstarted/Claimingtaxcredits/workoutincomeandworkinghours/DG_172877

D70

allen35

I would expect you will have to declare your total gross before deductions as this is not a work expense but i'm sure others will advise further who work for HMRC.

cocker100

dseventy wrote: »

You need to declare it to them on the form as a cash value or the taxable amount. Your employer will give you a P11D or P9D which gives the amounts to use on the form.

So yes, you have to declare it, bit only the taxable or cash amont of the benefit, your employer will tell you what this is.

More here :

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCredits/Gettingstarted/Claimingtaxcredits/workoutincomeandworkinghours/DG_172877

D70

I've not received any form other than my P60 for last year from my employer. On my payslip it shows as a negative on the earnings side, rather than a positive on the deductions side.

Is the cash amount 340 x 12 for the year?

This feels like I am being stung by HMRC twice as they are already taken a cut through the BIK tax!

Naf

Declare it, but I think Tax Credits treat it as if you never earned it. I know they do for some salary sacrifice schemes (bikes4work I know because I just joined it).
So, say, you're on 24k, and pay £200 a month from your gross wage (just simple figures) they'd treat your salary as being £21600. Assuming this particular scheme is on their list. Just call; that's all I did. 08453003900 (028 9053 8192)

allen35

You should of been sent an annual declaration for you to declare your final gross income for 10/11 tax year.

Are you single?

Your original claim should of been based on 09/10 so don't quite understand.

Based on your info' of earning £10,400 this last tax year you should be entitled to WTC for this 11/12 tax year.

5823yil

ironwright wrote: »

I renewed my tax credits and after getting my tax award notice through, i noticed they have the wrong amount for my husbands earning 2010/11. Can I just call them up and change it or better in writing?

Thanks

Hi,

I renewed but mine was wrong - I called up to make sure it was right. My renewal had not been renewed yet so they updated it.
Best to get it right if you dont they would only think you were hiding something..

cocker100

Just noticed something on my payslips.

The gross figure for the "year to date" has the gross amount of the car deducted from it, as like I said above it is shown in the earrings side of the payslip as a negative figure.

Therefore the "taxable" end figure (the one I always use for tax credits) for the year will already have had all the car payments deducted from it!

So, I estimate this figure now and quote the exact figure next year, but also mention that I am in a car salary sacrifice scheme. Right?