Another confused tax credits question

TDMum

My brain is scrambled trying to figure things out and I'm just confusing myself further by reading up etc.

A Little background; my husband and I have 3 children ranging from 2-6, no childcare, no wtc. My husband has always worked 30+ hours and has been in the same employment forever. I was a SAHM and only returned to work 6 ish weeks ago working 12hrs a week.

2011-2012 underestimated our income by approx £4-£5k and have been paying back the overpayment this year through reduced ctc payments.

2012-2013 estimated £29500. Actual earnings £31000

2013-2014 estimated earnings will be £35500


I've been to entitled2.com and input details and I *think* we'll have been overpaid by approx £520? Anyone know if I'm in the right ballpark?

I called tax credits last week to let them know I started working at the very end of April 2013. They said my renewal had been sent to me on may 19th. I asked if I could renew over the phone then but they said I have to wait until the envelope arrives then I can call and renew. Seems a bit odd but hey ho if that's how it needs to be done, fair enough! I just want to make sure I'm budgeting correctly from now on so as not to spend any further overpayments.

I hope this made sense ?!

Icequeen99

TDMum wrote: »

My brain is scrambled trying to figure things out and I'm just confusing myself further by reading up etc.

A Little background; my husband and I have 3 children ranging from 2-6, no childcare, no wtc. My husband has always worked 30+ hours and has been in the same employment forever. I was a SAHM and only returned to work 6 ish weeks ago working 12hrs a week.

2011-2012 underestimated our income by approx £4-£5k and have been paying back the overpayment this year through reduced ctc payments.

2012-2013 estimated £29500. Actual earnings £31000

2013-2014 estimated earnings will be £35500


I've been to entitled2.com and input details and I *think* we'll have been overpaid by approx £520? Anyone know if I'm in the right ballpark?

I called tax credits last week to let them know I started working at the very end of April 2013. They said my renewal had been sent to me on may 19th. I asked if I could renew over the phone then but they said I have to wait until the envelope arrives then I can call and renew. Seems a bit odd but hey ho if that's how it needs to be done, fair enough! I just want to make sure I'm budgeting correctly from now on so as not to spend any further overpayments.

I hope this made sense ?!

What was your 11/12 income?

IQ

TDMum

Erm £32-£33k can't remember 100% but it was in that area

TDMum

Just found my old award letter, it was £31218.

Icequeen99

TDMum wrote: »

Just found my old award letter, it was £31218.

In that case there shouldn't be any overpayment because when you estimated 29,500 they should have still used 31218 in the calculation as they don't change it until income falls by more than 2,500.

So it should be ok.

IQ