We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Income disregard 2 years on - desperate for advice!
Kayemm_2
Posts: 2 Newbie
Hi, this is my first post here so sorry if this is something that's been asked before but I can't find any info anywhere.
I started claiming tax credits in January this year. My income details are below:
2012/2013 - £3500 (what my initial award was based on)
2013/2014 - £9800
And going forward from now on I am earning £7800 a year. The £9800 was because I received a one off payout from work. My question is this: because 7800 is not 2500 lower than 9800 I know the income disregard will come into play for this year but what about next year? As my income should stay at a steady £7800 will the tax credits award always be based on £9800?
Sorry if this doesnt make sense! I know what I mean, just hope someone else does! I've recently become a single parent and am desperately trying to work out my finances - can't get through to tax credits to ask them.
I started claiming tax credits in January this year. My income details are below:
2012/2013 - £3500 (what my initial award was based on)
2013/2014 - £9800
And going forward from now on I am earning £7800 a year. The £9800 was because I received a one off payout from work. My question is this: because 7800 is not 2500 lower than 9800 I know the income disregard will come into play for this year but what about next year? As my income should stay at a steady £7800 will the tax credits award always be based on £9800?
Sorry if this doesnt make sense! I know what I mean, just hope someone else does! I've recently become a single parent and am desperately trying to work out my finances - can't get through to tax credits to ask them.
0
Comments
-
Thanks so much for your reply - I was just confused as to whether they would keep basing it on £9800 forever because £7800 is not enough less for them to recalculate.
It doesn't seem like that's the case though. Thanks again.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards