Tax credits- provisional award and potential payment?

monkeynutter

Hi,

I received my tax credit renewal letter today which listed it as a provisional award. I understand this is because the income is estimated?

It also stated a potential payment of £7k (we hugely over estimated the income last year so this would make sense), but there was no details of our monthly award etc as there usually is. This letter was dated 2nd August... We only sent our renewal in at the end of July but it had all the updated figures on it. Will I receive a final award? And will I receive this potential payment as a lump sum?

Thanks

Horseunderwater

Yes you will get a finalised award shortly. It just takes a little time for them to work the details out. If they now have your correct gross income for 2012/13 it should not be too long. However when it does arrive - do check that it has all correct details on it - hours worked - income for both of you and right amount of children etc. You have 30 days to correct any errors. Not sure if you will get a lump sum but you may. Note that it stated potential amount - so it may be less. And finally do not spend it until you have the paperwork. That was what I did wrong many years back.

AyeReady1985

I sent my renewal back in mid June yet still no award notice or potential payment which my amended award notice received in December 2012 stated.

I have called a few times and keep getting told that it will be processed and no timescales could be given.

I do not understand why some renewals are being processed so quickly but mines is taking over 9 weeks. I know others who's renewals are being dealt with in a matter of a few weeks also. We are not claiming childcare, just child and working tax credits.