Tax Credits Renewals - 2014

Orville

welshone1 wrote: »

It's the real time system that the tax credits uses to get your p60 figures directly from your employer so you need not do anything. But if the figures on your notice are wrong you will need to ring. If you look on the thread previously blonde bubbles explains it a bit better.

Many Thanks :-)

Seems like a good idea, hopefully it will cut some of the fraud out too.

andrewmp

Haven't had my renewal pack yet but for some reason my tax credit payment has gone down by £20 this week. Does anyone know why, there's nobody wanting to answer at the moment.

georgiasdragons

Andrew


They could have updated your income by real time and that's why your payments may have gone down.

I am still waiting for my renewal too, so hope it comes before my next payment so I know in advance whats what.


it seems the renewal process has changed this year so im not sure if you get a auto renewal pack then get the new award after or whether they come at the same time?

andrewmp

georgiasdragons wrote: »

Andrew


They could have updated your income by real time and that's why your payments may have gone down.

I am still waiting for my renewal too, so hope it comes before my next payment so I know in advance whats what.


it seems the renewal process has changed this year so im not sure if you get a auto renewal pack then get the new award after or whether they come at the same time?

I think you're right. The thing is, her P60 showed about £4000 in earnings, I thought they'd deduct a lot of this as she was on maternity pay, also I had two weeks of paternity pay, do their systems not deal with this sort of thing automatically?

I'm on weekly payments so I'd guess my pack must be on it's way.

georgiasdragons

correct me if I am wrong but you can ring once your renewal comes and deduct so much maternity pay so amend your earnings if they are not correct.


I hope mine is on its way, never waited past april before!

Horseunderwater

I got a pay't on the 24th April but no letter so I rang them up & asked if money was ours. They resent the letter which arrived the following day. But I had waited 3 weeks to ring them.

FRESTER

Got our renewal today which was two weeks and two days from the date it was printed.
Even with my wife being self employed and me getting careers allowance we were able to renew online.
I will let you know how long it takes.

andrewmp

georgiasdragons wrote: »

correct me if I am wrong but you can ring once your renewal comes and deduct so much maternity pay so amend your earnings if they are not correct.


I hope mine is on its way, never waited past april before!

Ah right, so I should be able to deduct 3900 (39 weeks on maternity leave)?

Cka

Yes andrewmp as long as she is getting over £100 a week in smp.. this is what they told me on Tuesday when I phoned with my p60 details...

Simon7685

Please disregard my post, I have had a brain meltdown and was looking at completely the wrong figures...........
The amount it deducted was my expenses not last years loss, so the figure was right, it was me and my meltdown TGIF!!!!!

I got my pack yesterday and it let me renew online which was much easier.
Just one thing if someone who knows can help me out?

I am self employed, disabled and work 16 to 20 hours a week. On the TC renewal it asked for SE earnings and told me to refer to my tax return for the info, so I did. The box it told me to use had my profit for this year but was after deducting last years loss.
Total profit was £4176
last years loss was £1731
leaving profit of £2445
I was expecting to have to use the the higher figure, could anyone confirm if I have used the right one? I know it is what they told me to use but it just concerns me and I don't want to have got it badly wrong!

Either way I don't think it is a bad result to have made some profit in my first full years trading! Hopefully they will agree.

Thanks in advance.