OMG how much will I have to repay?

lou-28_2

I have made a right c0ck up on the childcare element of my tax credits.

I said that my childcare element was £175 per year but when I've recalculated it should only have been £66.22, so over £400 per month.

I think the reason I c0cked up is because I had forgotten to deduct childcare vouchers through salary sacrifice and also had accounted for my daughter who is school age to be going back to that nursery in the holidays but I had found cheaper alternative instead.

This was a genuine mistake. I'm really worried how much I'm going to have to pay back as I fear what I am owed for the rest of the year might not be enough to offset it.

kerys28

the tax credit team wont take what you off in 1 year they will spread it over all future awards
hope this answers your question
thanks

JodyBPM

As a further point (sorry to worry you more) I don't think you are allowed to use tax free salary sacrifice childcare vouchers as well as claiming the childcare element of tax credits, I believe it is one or the other (unless this is what you mean by forgetting to deduct the amount...?). I would check this carefully whilst you are sorting this out, so that you can get this all sorted in one go.

I agree that they will probably let you spread the repayments out over more than one year.

karenx

If it was over £400 a month you were overpaid that means its £4800 you need to pay back