Tax Credits underpayment what next?

flyingember

Hi all,

When I started my job last year I did not know who much overtime (if any) there would be. I gave an estimated annual income of £14060. As it turns out I only earned £13,783.

Does anyone know if I have been underpaid and if so how much by? Also, what will I get this year will it be based on 14022, £13783 or will I be asked to give another estimate.


I am work full time, am a lone parent with one child

Many thanks for your help in advance

fe

Murgatroyd21

Will depend what your income in 2010/11 was.

flyingember

Hi

I can't remember exactly but I think it was about £38k. I was made redundant and have not been able to find a job earning that much since. That's why I gave the estimate for 11/12.

Thanks

fe

Murgatroyd21

You will have been underpaid and once your claim is finalised a one off payment should be made to you for the difference (as long as you don't owe for any other years in a continuous claim). This year will be based on what's held on the system until the 2011/12 income is updated and the award finalised, so if you hadn't told them the £13783 figure before 6th April, it will be based on the estimate figure £14060. You can give a new estimate for this year if the income is likely to be more than £2500 lower than last year or £10,000 higher than last year.

flyingember

Hi

Many thanks Murgatroyd21

fe

Murgatroyd21

flyingember wrote: »

Hi

Many thanks Murgatroyd21

fe

You're welcome.