tax credits don't add up

Rain_is_Insane

Apparently our tax credit combined (WTC for him, CTC for me) still to be paid to us for this year is £3589.78, divide that by 52 (or am i wrong) and that comes to £69.03 per week. All i get is £39.04.
Am i calculating something wrong? number of weeks? Does his WTC cancel out my CTC or vice versa? I'm lost!!

I don't want to ring up and sound stupid but the difference, if correct, is quite substantial to my household income at the moment.

Any ideas?

Gaz83

First of all, dividing the yearly award by the number of weeks doesn't work. We're already in July, so there aren't 52 weeks left in the tax year.

First of all, check where the payments are being made. Are they being made into the same account, or different accounts? Or is the WTC being paid through wages?

How much is your award, and how much have you already received? For example, we used to get people who would simply divide the award by 52 to get their weekly figure, but it doesn't work that way - say an award was £5000 but they had already received £2000, they'd get the difference paid in the number of weeks until the end of the tax year.

Rain_is_Insane

I've had a lump sum of £277 so far (back payment) and 3 payments of £39.04 so far. No difference to anything else

Gaz83

Do you have an overpayment from previous years? Have you had any manual or off-system payments (i.e. at a Tax Office)?

Should both your payments be being paid into the same account?

Rain_is_Insane

I've never claimed tax credits before so overpayment is pretty much ruled out.

I've just called them and apparently they still owe me a ton of money. Half was supposed to be added to wages but it hasn't been. I just have to sit tight and wait. I wish they would make things clearer

hazelbunny

Tax credits are no longer paid with wages. They are only paid directly to claimants.

Rain_is_Insane

So i've been mis-informed again?? apparently the OH would hve paid no tax as an adjustment. I'm so tired of this country

DAVETHE_CARDBOARDBOX

complicated isnt it. Whats a tax credit anyways ? They always seem to debit me !

jasper12

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krisskross

Rain_is_Insane wrote: »

So i've been mis-informed again?? apparently the OH would hve paid no tax as an adjustment. I'm so tired of this country

Could be worse. you could live in a country where all you have is what you earn. The social welfare system in Britain is probably the best in the world.