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Tax credit big income change
bll78
Posts: 213 Forumite
Hello,
I was wondering if anyone could help. We've never been in the bracket to claim tax credits as we have always earnt far too much. However things changed in the middle of this year and due to disability I was found unsuitable to carry on working fulltime by my employer. I have thankfully found part-time work but as I've always been the main earner in the family, this has caused a huge drop in our overall income. We can't get tax credit in 13/14 because although our weekly income for the past 6 months has been really low, my earnings whilst in fulltime employment pushes us over the annual limit.
However in 14/15 we will be within the bracket. The change income will be over £10,000 can we claim tax credit or because they base it on 13/14 income do we miss out?
Thanks for your help in advance
BLL
I was wondering if anyone could help. We've never been in the bracket to claim tax credits as we have always earnt far too much. However things changed in the middle of this year and due to disability I was found unsuitable to carry on working fulltime by my employer. I have thankfully found part-time work but as I've always been the main earner in the family, this has caused a huge drop in our overall income. We can't get tax credit in 13/14 because although our weekly income for the past 6 months has been really low, my earnings whilst in fulltime employment pushes us over the annual limit.
However in 14/15 we will be within the bracket. The change income will be over £10,000 can we claim tax credit or because they base it on 13/14 income do we miss out?
Thanks for your help in advance
BLL
0
Comments
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they will make an initial award based on the 13/14 figures but then you have to phone them and give them an estimate of this years income. they will then make a revised award based on the estimated figure0
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Thank you both for your help0
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