Tax Credits Renewals - 2014

AdviserInTheKnow

Fergie42 wrote: »

Hi
Received my paperwork for my final 14/15 award.
Also came my 13/14 paperwork but it states it is only provisional. I have given the details and have never said it was estimated so I'm not sure what's going on.
Should I ring them and confirm that the figures I have given are the final figures and not an estimate?
Thanks

When you reported 13/14 Actual income, did you report any changes or update an estimate for income for this tax year 14/15? If you did, no need to call again, a provisional award means a change has gone through but the renewal hasn't fully processed yet. When the renewal goes through you should get Final Award 13/14 and then an up to date 14/15 award, (should say initial or amended award). This may take up to 8 weeks from the date you renewed. Hope this is helpful?

AdviserInTheKnow

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.

You don't need to tell them of the medical insurance unless you get a P9 or P11D in which case it is treated as a Benefit In Kind and needs to be reported, they will need to know the cash equivalent of medical insurance or company car if you have one. Hope this helps x

AdviserInTheKnow

1) If you have no changes renew online if possible

2) Have all income details for the tax years required, some renewals still ask for 12/13 as well as 13/14 so double check the renewal before calling

3) If the change you are reporting happened on or after 06/04/2014, you can still renew and then report the change as a seperate call, or write in making sure you pay a little bit extra if possible to get recorded delivery (probably save time and money this way rather than hanging on phone and not getting through). The main reason it says to report changes before renewing is to make sure they don't close down 13/14 without changes that occurred between 06/04/13 and 05/04/14 being updated first, or those changes may not be able to be updated once 13/14 is finalised.

4) If work hours have changed but still working for same employer, this does not always need reporting, If shows between 16-29 hours on single claim, unless hours go below 16 or to 30+ no need to report hours change, just update estimated income for following year, if hours 30+ on award and for example award shows 39 hours but you only do 34, again, only need to focus on getting the income correct

Hope this helps, if you have any questions or want more hints and tips feel free to ask

Fergie42

AdviserInTheKnow wrote: »

When you reported 13/14 Actual income, did you report any changes or update an estimate for income for this tax year 14/15? If you did, no need to call again, a provisional award means a change has gone through but the renewal hasn't fully processed yet. When the renewal goes through you should get Final Award 13/14 and then an up to date 14/15 award, (should say initial or amended award). This may take up to 8 weeks from the date you renewed. Hope this is helpful?

Hi
Thanks very much for your help. I did change my 13/14 income and they have the correct figure on the award but it states it is an estimate. They also say I am due a potential payment when I confirm this income.
I'll leave it a couple of weeks and then get in touch as I know they are very busy right now.
Thanks again

vaz72

So does that mean they rework the 13/14 on £16600 and not that they then subtract it from the £19000 . Sorry just very confused

vaz72

Ok thanks makes it much clearer now.

Croppy_boy

I have never deducted my private pension contributions from my profits when I fill in tax credit forms. Will I be able to claim these amounts back from previous years? Or am I too late?

1111

i renewed mine on 17th june and reported a change at the same time (it was just dates my esa started), i have a provisional award noting the change but still had estimated income on not the actual that i gave when he took my renewal details, nothing since then, is anybody else still waiting? im getting worried now

1512

I renewed over the phone on 16th June and still waiting.

mum63

When I rang with husbands p60 amounts I told them the expected amounts for this year also I had no income as I don't work only to find no payment this week,on ringing to find out why I was told we earn too much.they have only put husbands expected earnings for this year down as my earnings.I rang today to be told I would start to get money back next week.how do I complain about me losing money because of their mistake.:mad: