disregard and underpayment for child tax credits.

carebear13

Hi,
I over-estimated our income by around £7,000. i have been on the calculator and have used the original and new figures and it gives me a difference of around £2000 underpayment.
Is that the right way to do it due to disregards to get an idea if anything is owed?
Also if that is right and we are still entitled to tax credits would they pay that kind of amount in a lump sum or just add it on to the new payments?

I can post figures if needed.
Thanks.

marliepanda

If you under estimated your income then you would owe HMRC... They wouldn't owe you.

carebear13

sorry, it was overestimated marliepanda.

blondebubbles
12/13 - 33222 actual
13/14 - 39531 est , actual will be around 32,500 ish
estimating 14/15 to be around 35,000.

thank you.

carebear13

4 children. 1 hrm anf hrc for dla.x

carebear13

Not what i thought then. Thats mad that is, our income has actually decreased by around £7000, if i put my figures into the hmrc calculator the difference is a lot more than £536. why doesnt that calculator take into account the disregards i wonder?
Thank you for working that out for me.x

Just to add we get £660 monthly which then changes to £550 from end of april.
Will that change when we do the renewal? Think i'm getting myself very confused.

carebear13

No i meant the estimate has dropped. I have used both the hmrc one and the entitled to one. The hmrc one differs by £2000 when i put both sets of figures in. Whem using the calculators what is the best way to get an accurate figure? i tried the calculators since they were updated.

carebear13

thank you blondebubbles, i appreciate your help.