Next year's Tax Credit Calculations - help please?

backinbusiness

Hello

Nearly got my head around next year's Tax Calculations except for one thing, so would appreciate your help please.

Are the TCO calculations for the tax year 2011 - 2012 based on my income for 2010 - 2011 (in terms of the income taper)?

Thanks for the input.

BiB

zagfles

Initially yes but can be adjusted depending on current year income. But there's a 10k disregard for income increases so if income goes up 10k or less there won't be an overpayment. If income goes down you'll get more (if you tell them).

Lovelamour

zagfles wrote: »

Initially yes but can be adjusted depending on current year income. But there's a 10k disregard for income increases so if income goes up 10k or less there won't be an overpayment. If income goes down you'll get more (if you tell them).

How does the disregard work?

zagfles

See https://forums.moneysavingexpert.com/discussion/2965016