Changes in Employment - no longer eligible for tax credits

lisssa

Hi

Hope someone can help me. Im a single parent and was earning 38k a year and getting £10 a week tax credits.
Ive just been promoted :jand including a 'car allowance' of 4500 my wages will increase to approx 49k a year. Im aware that I am no longer entitled to any payment of tax credits, but was wondering whether I will have to pay back the £200+ I have received since April, even though my wages wont increase until November. From reading their web site I think I do have to repay it, and they will also expect it immediately in one lump sum, which until I start getting my new salary I cant afford to pay back.

Just want to understand the 'process' as I dont want to be in a situation where they are demanding money back and I havent got it to give them .

Thank you in advance for any help / information you can give me.

zagfles

No you won't have to repay it, in fact you'll still be entitled to the £10pw till next April, when it will stop.

The family element is retained till £40k this year, but there is a £10k disregard for income increases, so if your income last tax year was under £40k and your income this year is under £50k, which from your post seems to be the case, then you still get the family element this year.

Give them a ring when you get the pay rise, to make sure, but your payments shouldn't change till April when they'll probably stop.