WTC - odd amount paid early

paulofessex

Has anyone else received an unexpected payment from Working Tax Credits.
Payment is paid on the 28th of each month, today the 21st l have received a payment of £58....approx. £100 less than usual.

I can only think its down to the Bank Holidays as to why payment is early, and the lower amount is due to end of year.

I know l can phone and find out but to be honest l will wait until l have the renewal forms through, was just wondering if others have had the same thing.

pipscot

paulofessex wrote: »

Has anyone else received an unexpected payment from Working Tax Credits.
Payment is paid on the 28th of each month, today the 21st l have received a payment of £58....approx. £100 less than usual.

I can only think its down to the Bank Holidays as to why payment is early, and the lower amount is due to end of year.

I know l can phone and find out but to be honest l will wait until l have the renewal forms through, was just wondering if others have had the same thing.

i've also had a lower amount than expected paid in - not sure why?

misssmcc

i think you should call them and ask, but it may be that you had a slight underpayment for the previous year and this is them balancing it.

laurel7172

I also had a low amount paid early-I assumed it was to do with the end of the tax year (it arrived on the 7th, so I thought it might have been a payment up to the 5th), but I guess I'll see when the next one comes. It is being cut, of course...

Madmonk

Watch out ! I had £25 less paid in and rang them up, this morning! Only to be told that a threshold for wtc had changed from £17,500 ish to £18,500 ish and that was the reason for the change! They said the change was advertised in the budget but I don't recall it - so basically the extra you might have got through paying less tax is being clawed back via wtc and I assume ctc might change as well!

MM

Madmonk

I think I've got the figures wrong they have reduced the threshold from 18,500 to 17,500

MM

pipscot

maybe it's something to do with the withdrawal rate which is now 41% instead of 39%?