Tax Credit Help please... I have made a mistake

City_Girl_2

I have just looked a both my and DH's 2010/11 P60's and realised that we earnt £344.67 over the £40k threshold and I didn't tell them before the 31.7.2011. I haven't really checked our P60's with any great interest but certainly will be doing from now on!!!!!!

I will ring them tomorrow, but has this happend to anyone else?

It is genuinely a simple mistake on my behalf, but I am now really worried that this going to cost us, which we could do without. I know I have a sleepless night ahead of me now!!!

Can anyone give me any advice or similar stories/outcomes.

Thanks in advance
CITY

merlin68

Is 40k not the cut off point for tax credits?

zagfles

Don't worry about it - it won't affect last year's award and will only reduce this year's by about £140 so they'll reduce your payments for the rest of the year. Give them a ring and explain your oversight - they'll simply correct the current year award and that'll be it. You shouldn't have any overpayment yet but you'll get about £20 less per month till April.

City_Girl_2

Thanks Zagfles, I hope it works out like that. I am getting myself into a mess about it.

CITY