Child Tax Credit - NEVER GIVE AN ESTIMATED INCOME

no-oneknowsme

steadynerve wrote: »

couldn't Martin liase with CTC and get some skilled CTC operative posters on the site that could be called upon to clear up threads like this quickly and propogate the correct info??

We already have some...they have just spent many hours helping on this very thread!

Lyns15

I'm totally lost on this one and wondered if anyone could help me.

Income for 2009/10 £20177

Income for 2010/11 £34200


Currently receive Child Tax credits of £9001.18, for 2010/11, for 4 children, under 16, and 2 adults working 35 and 40 hours.


I'm assuming that we have an overpayment that we will have to pay back.

Many thanks

zagfles

Lyns15 wrote: »

I'm totally lost on this one and wondered if anyone could help me.

Income for 2009/10 £20177

Income for 2010/11 £34200


Currently receive Child Tax credits of £9001.18, for 2010/11, for 4 children, under 16, and 2 adults working 35 and 40 hours.


I'm assuming that we have an overpayment that we will have to pay back.

Many thanks

Nope - no overpayment. You're covered by the 25k disregard. Amount looks right.

You will build up an overpayment in the renewal window ie from now till they process your renewal - if you want to avoid this give them a ring and tell them your income.

Lyns15

Can I tell them my figures even although I haven't had my P60 for 2010/11?

zagfles

Lyns15 wrote: »

Can I tell them my figures even although I haven't had my P60 for 2010/11?

Not finally but you can give them an estimate

Lyns15

Many thanks for your help. I've been worrying about this.

I'll sleep easy now:j

purplep1

Hi all,
First of all my apologies if I have written this in the wrong place, I have never used forums before but I'm worrying myself sick about this and desperately need some sound advice.
I'll start at the beginning, I started claiming joint tax credits in Jan 2012 with my fiance after the birth of our first baby. We were both employed full time until I started SMP in Oct 2011, this gave us a joint income of around £26,000 for 2011/12 (I worked 35 hrs my partner works 37) After ringing TC office I was advised we would be able to claim child tc at around £51 a month but if our income were to reduce in 2012/13 (which it inevitably will being on smp) this would dramaticly increase to around £440.00 a month. So I did as I was told and awaited my award notice after 6th April, I rang to give them the estimated reduced income figures for 12/13 which is a basic £493.30 (14 weeks smp) and £16,300 for my partner, the lady estimated we could claim 218.00 a month, when I enquired why this was lower I was advised we were above the income threshold of £17,729 as the disregard of £2500 was in place. A few days and a lot of worrying later I went back through my partners income as the estimate (16300) given to me by his payroll did not seem to match with previous yrs. Looking at the figures again I realised his AVC pension was also included and his estimated income was more like £12,854. So I rang again and explained the situation and was told this would mean we were now under the threshold increasing our payment to £330.00 a month for ctc and wtc. HOWEVER he has now brought his P60 home from work with a total figure of £15430 (over £2500 difference) and due to the incompetence of his payroll department I have given in the wrong info. Now it is looking likely that his income will drop by £770 to £14660 as he works for a local council and there will be some restrictions on pay, but what do I do now, as I have budgeted for £330 as I am not returning to work every £ is accounted for but will the difference be covered once the disregard is accepted on next years claim? I hope this makes sense as I have worried myself sick since and don't seem to be able to get any straight advice from HMRC.