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Tax Credits - Need some help with figures and the 10K rule.
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Ok well I am a regular poster here.
I have had some great advice from people here and IQ has been a great help. I just now need to confirm some figures if possible.
Ok well income for 2011/2012 was £16500
My claim for 2011/2012 is based on £16500
My current year claim 2012/2013 is based on £16500
Am I correct to say that as long as I earn no more than £10000 on last years wage (this year) of £16500, then the 10K rule works and I do not have to repay anything.
So in essence I can't earn any more than £26499 this year, is that correct? :cool:
Thank you very much!
I have had some great advice from people here and IQ has been a great help. I just now need to confirm some figures if possible.
Ok well income for 2011/2012 was £16500
My claim for 2011/2012 is based on £16500
My current year claim 2012/2013 is based on £16500
Am I correct to say that as long as I earn no more than £10000 on last years wage (this year) of £16500, then the 10K rule works and I do not have to repay anything.
So in essence I can't earn any more than £26499 this year, is that correct? :cool:
Thank you very much!
0
Comments
-
Yes .
But if your 12/13 is higher than 16,500 tell HMRC by 5 April 2013 so your 13/14 payments are not overpaid.
IQ0 -
Thank you so much! I just needed to check, you know when you wonder if you understood correctly.
Once again thank you.0
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