Tax Credit Lump Sum & Now Had Payrise

MustStopSpending

After sending in my renewal I received a lump sum into my account, am I correct in thinking this was for our earnings 2011/2012?

However as from 1st August my husband starts a new job & we will be earning over the threshold so tax credits will stop, once we have this confirmed in writing I will inform TC.

My question is this lump sum was for last year & won't be clawed back now our circumstances have changed? I've paid it off some debt & now I'm worrying they are going ot want it back.

Thanks.

Horseunderwater

Ring them and ask. Quite simple really.

MustStopSpending

I wanted to try and avoid a lenghty "on hold" phone call but thank you for your reply.

dseventy

MustStopSpending wrote: »

I wanted to try and avoid a lenghty "on hold" phone call but thank you for your reply.

MustStopSpending wrote: »

now I'm worrying they are going ot want it back.
.

Which is worse? The worry or the on-hold phone call? Decision time.

D70

zagfles

MustStopSpending wrote: »

After sending in my renewal I received a lump sum into my account, am I correct in thinking this was for our earnings 2011/2012?

However as from 1st August my husband starts a new job & we will be earning over the threshold so tax credits will stop, once we have this confirmed in writing I will inform TC.

My question is this lump sum was for last year & won't be clawed back now our circumstances have changed? I've paid it off some debt & now I'm worrying they are going ot want it back.

Thanks.

Have you had the paperwork yet, that should tell what the lump sum was for but if it's much larger than your normal payments it'll almost certainly be for last year. Whatever happens this year they won't take that back, but it's possible any payments for this year since April might be if it's a very big payrise. But there is a £10k disregard for income increases, so unless his income has gone up more than £10k your tax credits this year will be based on last year's earnings.