Quick question re over and underpayments tax credits

georgiasdragons

I have two quick enquiries.

I earnt 12 k last year ending 2011 then this year earnt 14600 but estimated i was going to earn 12500.
So will i have an overpayment or will this be counted in the disregard and does that mean when i do my renewal my payments will reduce over the next 12 months and will i have an overpayment from last year?

Second
My friend estimated 11000 but only earne 8500 will she get an underpayment therefor a lump sum.
WE both have our renewal forms already but wanted some advice before calling.
Thanks in advance

shedboy94

georgiasdragons wrote: »

I have two quick enquiries.

I earnt 12 k last year ending 2011 then this year earnt 14600 but estimated i was going to earn 12500.
So will i have an overpayment or will this be counted in the disregard and does that mean when i do my renewal my payments will reduce over the next 12 months and will i have an overpayment from last year?

Neither an o/p or an u/p, but your payments will reduce this year as they will be based upon the inc of £14600 as opposed to previously being paid on £12000

Second
My friend estimated 11000 but only earne 8500 will she get an underpayment therefor a lump sum.
WE both have our renewal forms already but wanted some advice before calling.

Impossible to say without knowing what your friends 10-11 inc was

Thanks in advance

Your best bet is to get your friend to call the TC helpline