Tax Credit Renewal What to include?

housewife_2

When giving your annual figures for tax credit do you include superannuation payments or should it be net of this? Is it the same for SMP? I have been on maternity leave and someone at work told me that I should be deducting superann and SMP from my final salary? Just want to check before I submit the figures. I don't want to get overpaid but yet i would hate to be underpaid!!!!

TheWaltons_3

housewife wrote: »

When giving your annual figures for tax credit do you include superannuation payments or should it be net of this? Is it the same for SMP? I have been on maternity leave and someone at work told me that I should be deducting superann and SMP from my final salary? Just want to check before I submit the figures. I don't want to get overpaid but yet i would hate to be underpaid!!!!

hi

You knock £100 a week off for every week you have been on Maternity pay, you knock work pension contributions off... so, take the figure from the P60, deduct all your maternity pay and pension contributions... and then give them that figure.


Something I never did, and wish I knew about almost 2 years ago!

milliejon

Thank you for this. I just called them and told them the gross figure from my P60 (which I always do). I happened to mention that I had SMP listed on it, and did this matter, and he said that I should deduct this from the gross figure.

This is my second baby, and I've never deducted this before.

I still don't trust what he said, and I'll check it with them again when I get the award notice.

housewife_2

Thanks for the help at least i will be able to claim the correct figure this year. I have had 3 children since tax credits commenced and never deducted SMP or Super Ann. Last year I was off sick and had to claim Incap Benefit for 6 weeks tax credits were stopped and tax code reduced as they said i was overpaid? Is it possible to claim back for underpayment of tax credits? If it's an overpayment they would ask me for it!!!!!

hotblu

Hello, dont know if anyone is still reading this thread, but just thought i'd let you know if you haven't deducted £100.00 per week for SMP in previous years renewals you can phone up the helpline and make a correction. You can go as far back as 04/05. We have now closed the correction screen for 03/04. Also, I would like to mention, when you recieve a renewal pack you always get guidance notes which tell you what you have got to include/exclude when declaring your income. I know the actual renewal pack can come across as complicated, but the helpline is open 7 days a week 8am-8pm if you need help etc. Hope this helps.

milliejon

I actually read the notes today when my pack came through - and it does mention taking off SMP and pensions (if you don't pay via your employer). I can't believe I haven't seen this before.

I was told by the guy I spoke with that if I haven't claimed this before then there's nothing they can do about it!

JET34

I Never knew you could deduct your pension payment's.....

backtomum

JET34 wrote: »

I Never knew you could deduct your pension payment's.....

Neither did I and I never have!! I've looked through the guidance book and can't find any advice on this. Thank you for this as my partner paid nearly £1000 pension contributions last year and I gave them the P60 figure.


Tax credits are a shambles aren't they. Even when you are given an allocation I can't stop worrying in case its wrong and needs paying back.

milliejon

The bit about pensions is in the guidance book. I don't have it now, but I found this in the guidance for 06/07:

Deduct any personal pension contributions you paid
direct (for example, FSAVCs or stakeholder pension
contributions). Enter the gross figure before any
tax relief.

If it was paid via your employer, it will already be taken account of in your P60.

kurjam

can you make deuctions if you were off work sick for a few weeks...

TheWaltons_3

milliejon wrote: »

If it was paid via your employer, it will already be taken account of in your P60.

Are you 100% sure about this?