Waiting On TC Potential Payment

[Deleted User]

Just wondering how many others are still waiting on their potential payments... This is my first one, so I'm not sure if this late in the month is normal.

I phoned last week to see if I could get a specific date, but chap couldn't help, just said it should be this month. Getting a bit jittery as I'm kind of relying on that payment getting to me before the middle of next month.

[Deleted User]

Has everybody got theirs then?

gingergee

Whats a potential payment?

[Deleted User]

When you're first awarded tax credits, it's based on an assumption for the financial year ahead, and they inform you of a potential payment to be made at the end, should your circumstances remain the same. When the year ends, the final figures are totted up and you're supposed to receive that potential payment, whether it be less or more, in August.

skintmumof2

I had my potential payment back in May? It was almost all of it paid in one lump sum and then a few hundred added on to this years award.

[Deleted User]

Really? That doesn't sound right at all, unless I am misunderstanding things completely. Are you sure that was your potential payment, i.e. in relation to the previous year, not your current claim?

I'm very surprised nobody else has anything to say here, whether they've received theirs or are still waiting.

LL30

I had one last year, it was also very early on in the financial year, May off the top of my head. I also had a small one this year, it hit my account at a similar time x

just_trying

Hi, i think you normally get it after you have renewed and they have sorted out your payments for the coming year. Remember it's a potential payment so you may not get anything.

gingergee

I have been gettin TC for years and never heard of it? I just renew and carry on getting more/less than before? Didnt know people got lump sums when they renew?

annie1975_2

gingergee wrote: »

I have been gettin TC for years and never heard of it? I just renew and carry on getting more/less than before? Didnt know people got lump sums when they renew?

It was on my notice this time for a potential payment,(never seen it on there before),but I thought it was something that was paid after April next year when they had worked out this years incomes.

no-oneknowsme

I had a potential payment a few years ago.

Once my renewal was sorted the payment was released.

OP are you sure that the potential payment is due to be released to you THIS year? The reason I ask is that if it is showing on this years award notice then usually it wont be released to you until after your renewal NEXT year when they can be sure that your situation dosnt change between now and then...