Tax credit renewal - general questions (merged)

LLM

They will owe you depending as your income will have most likely have fallen in to a lower bracket than what you estimated.

We are in the same boat as you, we over estimated by £8k! Thought I would return to work after having my baby last year but lost my job and not able to find another one!

no-oneknowsme

My potential payment went into my account on the same day as my new payments....

I have had a potential payment 2 years running now and on both occasions it was lodged the same day.

heidiprincess13

I don't know what the brackets are but we earned under 29k. I can't find a job to fit round 3 kids and my youngest is 1! Good luck with your job search and thanks for the reply.

ironwright

i renewed mines on the tuesday and my potential payment was in my bank on the friday. Great service

LLM

That is interesting to know! I think I will wait for the post man and if i've had nothing from them I will give them a call.

Thanks!

only_mee

Ours as gone up by £8 a week ( nothing as changed!!) and we also got over £140 in two separate payments back along.
Be nice to see the paperwork.

ticktactoe

hi is any one else waiting for an update on there tax credits renewal i updated on the 13 may and was told not to call back until 24 June and that they are double checking all childcare elements hence the wait has anyone else been told this ???

Horlock

Sorry to be difficult but I thought rather than creating a whole load of threads I'd try asking a bunch of questions in one. Please feel free to answer any question or all questions. As always thanks will be given.

1. Is there a way of filling out your tax credits form online?

2. Having just filled out a tax return online and been told I'm entitled to a refund :T can anyone indicate how long it will take for the money to arrive in my account?

3. Do tax credits give refunds (ie if they underpay - I'm expecting them to have underpaid as they based my calculation on my inflated estimate of my earnings) or do they just spread it over the next year?

4. How long do tax credits take to process forms?

5. If you sell a property, do you have to declare it on tax return even if you know you wont have to pay tax on it? (eg buy a house for £180,000 then sell it two years later for £175,000 so you know you've made a loss and there is no tax to pay) I haven't this year, but was wondering whether I need to start reading up on that section of the tax return in readiness.

Thanks all.

Tiredmum1_2

Hi,

Im writing on behalf my Brother who's getting confused with the renewal form. And i thought i'd double check his concern on here.

My Brother has recently married his now wife and is living with her and her two children from a previous relationship and they both have their own child on the way.

My brother also has two children from a previous relationship, that live with their mother, that he pays maintenance to.

When making the renewel, does my brothers total income including the maintenance he gives to his ex. partner to go on the form? Or does he take this off?

Also, his wife is currently out of work, if she's claiming maintenance for her two children from their father, does this count as income??

A little confusing!

Please help
Thanks

georgiasdragons

From what I have read I dont think you declare maintenance that you are receiving for tax credits but you do for other benefits.
Where as if you brother is paying maintenance he has to include this is his gross earnings. ie he cannot deduct this off his salary. He has to declare before he pays this out.