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Drop in income- tax credits
zoes_mummy
Posts: 1 Newbie
hi was reading the new info about tax credits on the hmrc website and read that you have to inform them within 1 month of significant changes in income and it will only be back dated 1 month not 3 as it used to be.
My question is- i know my partners and my earnings for 2012/13 will be about £6000 less than 2011/12 and would normally tell them when renewing but with this whole one month back dating do we wait until renewing or phone now? There is no other change of circumstances to report to them its only our income for 2012/13.
please help!
My question is- i know my partners and my earnings for 2012/13 will be about £6000 less than 2011/12 and would normally tell them when renewing but with this whole one month back dating do we wait until renewing or phone now? There is no other change of circumstances to report to them its only our income for 2012/13.
please help!
0
Comments
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zoes_mummy wrote: »hi was reading the new info about tax credits on the hmrc website and read that you have to inform them within 1 month of significant changes in income and it will only be back dated 1 month not 3 as it used to be.
My question is- i know my partners and my earnings for 2012/13 will be about £6000 less than 2011/12 and would normally tell them when renewing but with this whole one month back dating do we wait until renewing or phone now? There is no other change of circumstances to report to them its only our income for 2012/13.
please help!
The 1 month backdating rule (nor the 3 months before it) does not apply to income changes.
IQ0
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