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Tax credit salary change
Carian
Posts: 34 Forumite
Hi all
OH and I are in receipt of CTC, do I need to inform HMRC that my income that I gave them for tax year 12-13 is going to be up by about £300. As background income 11-12 was £19500, due to redundancy and change of job income for 12-13 was estimated £15300, will prob end up as £15600. Will there be a large overpayment, my renewal usually comes through in May so I think if it's a small change I will leave it till then.
Thanks
OH and I are in receipt of CTC, do I need to inform HMRC that my income that I gave them for tax year 12-13 is going to be up by about £300. As background income 11-12 was £19500, due to redundancy and change of job income for 12-13 was estimated £15300, will prob end up as £15600. Will there be a large overpayment, my renewal usually comes through in May so I think if it's a small change I will leave it till then.
Thanks
0
Comments
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There is no legal obligation on you to notify them of this change at this time as it is only a change of £300 on an estimated income.0
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benefitbaby wrote: »There is no legal obligation on you to notify them of this change at this time as it is only a change of £300 on an estimated income.
But as the OP is on an estimate it will cause a small overpayment. If you tell them now, the overpayment will be less (although it won't be that bid since it is a small change)
IQ0
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