Tax Credits Renewals - 2014

enuff

KevinG wrote: »

The renewal form finally arrived today and, as I suspected they have, for the first time used a figure reported by my wife's employer, which has resulted in benefits being cut massively. I will now have to report the correct figure, which for reasons I won't go into is significantly lower. In previous years they trusted us, now they don't.

Same happend to us, severly over estimated what we have earnt last year by 6k! Seems to be the new "mess up" for 2014

KevinG

Renewed on-line with the correct income figure, pretty straightforward. I wish they would spell out more clearly the deductions that can be made from income for Tax Credits purposes - I know it's in the work sheet, but how many people look at that? This makes a big difference to us and a lot of people must be over-reporting their income.

dipsy

OMG TC's are so complicated, every year it is a mess.

I told them my earning for 13/14 and on the 6th April 2014 I called to tell them my income for 14/15

my income for 13/14 was £3,937.20 less than it will be in 14/15 due to the fact I was off work due to an brain injury.

to make it more complicated my wage department messed up my p60 and they are in the process of re-issuing, to show the correct figures.

Because the P60 was incorrect and is linked to TC's through RTI, they have my salary higher than it is, but this will get sorted once the new P60 is received, but as a result of this, it makes an overpayment of £85.34 13/14 (when it should actually be an underpayment of £329.99 - they kept some back as my income details had changed significantly)

But what made me chuckle was this

"although we calculate that £866 is due to you we will pay you £1049.30 from now to 5 April 2015. The first figure takes into account everything we have paid you so far. But in case this causes you financial hardship we will pay you the second amount and collect back any resulting overpayment later on"

Why.... why not pay the correct amount

I was speechless....

dipsy

I will be calling them, but will wait for my amended P60 kill two birds with one stone, I can't face 2 x40 mins on the phone lol

I am puzzled as to how they got the figures wrong... I rang them on the 6/4/14 to tell them my income (predicted) for 14/15 period...and nothing has changed since then???

dipsy

yes my employer sent in wrong figures and I am awaiting new p60 once done I can close off 13/14 years

14/15 I knew my predicted salary and gave it to them on the 6/4/14 so I can't believe they would have by the end of 14/15 made an overpayment as they were given the figures for the year at the first opportunity

anyway will ring them once I have the amended P60 and I will also ask them to adjust 14/15 payments to ensure there is not overpayment

dipsy

sigh... I wonder why we bother to tell them what we are going to earn then....

the 13/14 will go down by £1200, there will be a difference of 4k between 13/14 and 14/15 currently a difference of £2800

I just thought by telling them my 14/15 wage they would just judge it on that... OMG that means people could owe loads at the end of the year.

I will ask them to readjust I don't want overpayments

Webby03

We have received our Child Tax Credit on the 16th May 2014 saying we have been over paid by £220 & £900, i have gone through the letters and dont understand why they have carried on paying us if we owed them money? It says at the end of the 2013 one that they know we have been overpaid and they were adjusting our payments but its still ending with loads overpaid?! Is there a way i can dispute this?

I have just been on the phone for 20mins and after entering all my details to dispute the phoen just said "we cant deal with this call at the moment, goodbye” So fuming now, plus i need to respond by 26th June (Tomorrow)!!

Thanks for any help in advance.

avababy09

Hi

Can anyone help please?
I am about to complete my renewal and i normally use the figure on my p60. Last year i started getting private medical insurance so do i add this amount on to the p60 total as its treated as income?
i also pay into a pension, i pay one third, my employer makes a contribution too. Do i add or deduct anything from P60 total for pension contributions?
Thanks in advance for any help

Webby03

Yes it does say that in my tax form, i didnt even notice it back then.
Does this mean i dont have a leg to stand on?

andrewmp

blondebubbles wrote: »

The P60 already takes into account pension contributions so just declare the P60.

You don't need to tell them of the medical insurance.

Depends, some employers take the contributions after tax, I know mine was like that (recently changed to salary sacrifice). They even told me on my renewal letter that I should take off my pension payments.