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Tax Credits Income
daff_duck
Posts: 202 Forumite
Could someone tell me if earnings were-
04/05-£8330.40/ tax credits-£7020.0
05/06-£12776.4/tax credits-7020.0, based on 04/05
What would the TC's be based on for 06/07 and 07/08 if wage stays at £12776.0
These are approximate figures btw
04/05-£8330.40/ tax credits-£7020.0
05/06-£12776.4/tax credits-7020.0, based on 04/05
What would the TC's be based on for 06/07 and 07/08 if wage stays at £12776.0
These are approximate figures btw
0
Comments
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06/07 would be based on £12776
07/08 would be based on £12776I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
O.K. what if 07/08 income lower than 06/07, say-£9000, would it still be based on £12776 or would they take into account the lower income of £9000?0
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They would use the £9000 for 07/08I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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Then if the 07/08 income ended up being more, is this where an overpayment happens? With regards to the income disregard does this apply every year?0
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You would only get an overpayment if you underestimated your income as less than the previous year and at the end of the year you found you had actualy earned more than the previous year.
i.e.: 06/07 £12000
You estimate your earnings as £10000
At the end of yr you relaise they where £12000.
You would get an overpayment on the £2000 difference between £10000 and £12000I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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