Potential WTC overpayment?

airliner

I just wanted to check if i'm thinking on the correct lines.

My earnings for 10/11 were:
£4.4k wages
£2.2k SSB
so £6.6k in total

for 11/12 my earnings will be £16k exactly.

I'm still receiving £48.53 p/w WTC.

When it comes to my final declaration post April 2012 I'll have been overpaid.... correct?

dancecrazylegs

not an expert but i think you will be ok, as covered by the 10k disregard ?

Jugers

Tax credits are based on your previous years income unless your current years income is lower, or more than £10,000 higher. Based on this, and if your info is correct, you shouldn't be overpayed. Your claim should be based on the £6,600 income from 10/11

airliner

Thanks for the replies.

I hope this is true because since April I have been putting my working tax credits into an ISA.
It'll be a nice little nest egg come next year.
Or if it's an overpayment I can just pay it all back, no fuss, no reduction in income.