starting part-time work and tax credits

Scragglewort

Hello, Hubby and I are currently claiming Tax Credits based on him working 30+ hours.

I have applied for a part time job which will be 16 hours and if i'm successful will earn about £97 per week .I know that we will have to inform Tax Credits about this.

As I understand it this years tax credits are based on the previous years earning? So would my new earning affect our current payments? Or would what I earn this year be used in conjunction with my Hubby's wages in calculating next years payments?

Tried working it out on entitled to but it would only let me enter my earning for 2011/2012 which of course was £0 it gives me the amount that we are receiving now. If I put in what I would have earned if I had worked all last tax year it gives me the figures for that.

We have 3 children but wouldn't be claiming for Childcare

Any advice appreciated

zagfles

It's based on previous year provided this year's doesn't go up by more than £10,000 or down by more than £2500

In your case looks like it'll go up by about £5000 so it'll be based on last years, you won't see a drop till April 2013 when it'll go down by about £40pw.

Scragglewort

I thought that would be the way it worked but was hoping someone could confirm it
Thanks