Very confused

sparko74

ive just had a working tax credits final decision and although nothing has changed im getting a lot less. im a single male and work 30 hours.
i will put details underneath and hope somebody can explain it to me.

2012/13 basic £1923.55
30 hour element £792.05
total working tax credit £2715.60
reduction due to your income £542.43
amount for the period £2173.17


2013/14 basic £1923.55
30 hour element £792.05
total working tax credit £2715.60
reduction due to your income £1692.48
amount for the period £1023.12

a difference of £1150.05

i still work 30 hours for the same wages, how can this be right. how does the reduction change from £542 to £1023 :(:(

princessdon

Because part of the calculation is based on prior year, so I Tahoe it your 11-12 income was lower?

sparko74

yes 2011/12 was £8000 i think. what happens next year then.

ohreally

sparko74 wrote: »

what happens next year then.

You get he haw.