I think i've been overpaid tax credits!

Jazziboo

:eek:

Hi All

I think i've received an overpayment of tax credits due to me calculating the amount of income i'd receive for this financial year wrong.

What happened was i was on maternity leave during April 10 up until the end of July 10, then i returned to work in August to date. When i calculated my income i worked out how much maternity pay i had received but some how i didn't included the one off bonus pay we had in April 10 and my company maternity pay - i only calculated my statutory maternity pay plus the monthly pay i would start getting from Aug on! I only noticed on this months pay slip on the bottom where it totals up the amount received, so i dug out all my old payslips from April to last pay and added everything up and its totals to about £1400 more than the figure i provided to tax credits - i cant believe i worked it out wrong, but what shall i do - shall i notify them tomorrow or wait till i get my P60? As i've still got the money saved in the bank as i only take it out when the childcare fees are due.

peainapod

I would notify them right away. Give them a ring and explain what has happened, tell them you're waiting for your P60 but that you wanted to notify them right away. Overpayment of tax credits can get messy and after having a baby its another stress you dont need. Do what you can now or the payments will mount up and before you know if they'll be asking for a small fortune back (depending on how much the over payment is by). Give them a ring and they'll tell you what needs to be done.
Check this page it might help you :
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/TaxCreditsandChildBenefit/TaxCredits/Ifthingsgowrong/Overpayments/DG_073813
Hope this helped