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sorry tax credits and p60
carlos700
Posts: 507 Forumite
I have just received mine and husbands p60 so i am going to ring tax credits with our annual figures .We have earned £476 over what i estimated .They have already reduced our tax credits once and i am affraid to phone them .How much do you think the £476 being over is going to effect the monthly payments ?i hope it is not to much as we are struggling as it is .Have the tax credits gone up any this year with the budget? sorry about the waffling just feeling alittle worried .
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Comments
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For most cases the tx credits withdraws by 37% of income, so on £476 around £176 but depending on your previous years income , you may not even have an overpayment.I 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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