Working Tax Credit

mayjane

Hi all,

Can anybody help me.

I currently claim working tax credit as a joint claim.

Am I correct in thinking that the money been paid to me now is based on our 2011/12 earnings? And then next years payment from April onwards will be our 2012/13 earnings?

I think that my earning will exceed in 2014 / 2015 and won't be able to claim so really I'm wondering if I still claim next year (April 14) as that will be the previous years earning and then when it comes to April 2015 I just stop the claim?

It all confuses me but I'm sure they work backwards but want to make sure as don't want to claim when I shouldnt be.

Any help would be appreciated.

mayjane

blondebubbles wrote: »

Your tax credits are based on your previous year income (which is 2012/2013).

They will base it on your 2013/2014 if your income decreases by £2500 or increases by £5000 subject to the disregards. E.g income was £10000 and increased to £20000, tax credit would base claim on £15000

If you think your income will be different for 2013/2014 call them now with an new estimate to avoid any overpayments.

Sorry I've just re read what I put I mean my 2014 / 15 will be the changed one where I don't think I can claim.

2013 /14 I will still be ok as my partner is just about to start work so it shouldnt exceed up until April. But after April I think we will be over.

Does that make more sense? I shall try edit my original post X

mayjane

blondebubbles wrote: »

So it won't affect your claim for 2013/2014 but it might in 2014/2015. How much do you expect the income to increase by?

Id say maybe just 17K just depends if my partner does any overtime etc. Wouldnt want to risk claiming if it was near the cut off just incase we went over by a little amount.

I'm sure when I last rung up they said if I went over 9K or around that it would go down but could still claim up to 17K

mayjane

blondebubbles wrote: »

Sorry it will increase by £17000 or to £17000?

Will increase to around 17K so total earnings will be 17K ono