Tax Credit advice

helenj36

Hi im just after a bit of advice.i told to the tax credit people i would earn 16500 for tax year 2010/11.ive just started a new job and have worked out i will now earn 18000 for 2010/11.im going to phone to update my info.i just wondered will this effect this years amount or only 2011/12 ,as this years tax credit award was based on 2009/10 income

thanks in advance for any advice

Aarons_mummy

If your tax credits right now are awarded for 09/10 income then from April you will be in 10/11 income so this new job will effect you in April 2012 (I think!) although I may be wrong so maybe someone else could clarify it or give you the right info

zagfles

helenj36 wrote: »

Hi im just after a bit of advice.i told to the tax credit people i would earn 16500 for tax year 2010/11.ive just started a new job and have worked out i will now earn 18000 for 2010/11.im going to phone to update my info.i just wondered will this effect this years amount or only 2011/12 ,as this years tax credit award was based on 2009/10 income

thanks in advance for any advice

What was 09/10 income? If it was £16500 or lower you'll be OK this year and your payments will drop next year.