Tax Credit overestimate

Mr_Falling_Star

Can somebody with a bit of knowledge just let me know if I am in the right area with this figure?

I have way overestimated our Income for this tax year. I told HMRC we would be receiving £29000 in income this year, it works out that it will be around £25500.

We have two children, one disabled that receives DLA. There are no childcare costs and I work over 40 hours per week and my wife works 12 (and gets CA which is included in the 25k)). There is a overpayment that we are paying back.

My back of a envelope musings estimate that we will receive a lump sum of around £1700. I don't need exact figures but does this sound right?

Thanks in advance

zagfles

No, max £1365 (39% of the overestimate). But it could be less, or even nothing - what was your income last year? If your income last year was 25,500 or less then it will make no difference.