Tax Credits Renewals - 2015

too_much_debt

blondebubbles wrote: »

Looks like your pension is from net pay then.

It's mentioned on page 10 of the renewal notes - https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/419044/TC603RD_Notes.pdf

Hi


OH e-mailed his HR and they replied:


Pension contributions are taken BEFORE tax is deducted as it is non taxable.


I don't understand though how his P60 figure is £29,725 when his salary + London Weighting + L/W Enhancement totals £30,087 (the difference between the two figures is £362 and he's paying roughly £120 a month.


Am I missing something?


Thanks

mrshtobe

My pack was sent to me 26 May - 8 working days ago. Should it have reached me by now if it's going to?

geministar

Just got my renewal pack today, but date on it was 11th May....can they normally take this long in the post? They don't usually take 3 weeks to arrive! It also has a red line on it....does this mean I'm going to have problems? Many thanks in advance.

ymakesmile

geministar wrote: »

Just got my renewal pack today, but date on it was 11th May....can they normally take this long in the post? They don't usually take 3 weeks to arrive! It also has a red line on it....does this mean I'm going to have problems? Many thanks in advance.

I got my renewal on monday and it was dated several weeks previously so it seems to be the norm. I had a red line on mine but i havent had any problems so far, i did my renewal by phone on monday and then had a text on tuesday saying it could take up to 8 weeks from then to process.....so i believe thats normal.

geministar

Thanks ymakesmile.....I feel better for that. Just going to post mine back......have a good weekend!

Tothemoonandback

Gemini Star, I renewed on 21 May by phone and received final award yesterday.I queried the red line as i phoned again last week and had to press 1 if I had a red line. Lady said they think it's for people who have to renew by 31 July. Some people have longer. Anyway hope this helps as she said there's nothing to worry about:)

thebrownsrmch

How is it possible that my wife and I are being asked to return more than we have been paid in FY 2014/15, our letter came today... we owe £6k but we have only being receiving £144pm.

I received a pay rise in Sept 2014 from £25k to £28k then started in a new position in Jan 2015 at £30k; HMRC were informed on both occasions and we had a letter last week asking for £580 and we thought that was our overpayment Jan to April, as payments stopped after April. Now we're being asked for £6,000; surely that cannot be right!?

I know my wage is the norm for an engineer but my wife doesn't work and when we take our outgoings from our ingoings we have just barely enough to feed us and fill the car each month (never enough for long term planning/saving, we have to 'wing it' with MOTs). We've cut all luxury items, the only thing I can think of getting rid of now is my pension and life insurance, all other outgoings are utilities. Or maybe sell my car and cycle to work, saving us £200pm (petrol/insurance).

Apologies for the rant but my wife and I were doing just fine getting by, just feeding ourselves and the kids and understood we could never have luxuries nor holidays (our last holiday was a family paid honeymoon four years ago) and now HMRC come along and want to mess up the status quo...

What should I do, dispute it? My wife says she rung up and everything is correct but it just doesn't add up to me!

zagfles

too_much_debt wrote: »

Hi


OH e-mailed his HR and they replied:


Pension contributions are taken BEFORE tax is deducted as it is non taxable.


I don't understand though how his P60 figure is £29,725 when his salary + London Weighting + L/W Enhancement totals £30,087 (the difference between the two figures is £362 and he's paying roughly £120 a month.


Am I missing something?


Thanks

Did he get a payrise last year?

The figures you've posted show that he's getting taxed on the full "total gross", assuming he has a 1060L tax code, but they look a bit odd, how come May is lower than April? And what does "Stak'able Gross" mean?

May total gross times 12 = 28353.96, so if his salary is £30k+ something is being deducted?

What is the bottom line for both months, ie what he actually got paid? I ask because sometimes the pension conts are done by salary sacrifice and the "total gross" already has the pension conts deducted, they are listed for info only (like the employer conts are).

Icequeen99

thebrownsrmch wrote: »

How is it possible that my wife and I are being asked to return more than we have been paid in FY 2014/15, our letter came today... we owe £6k but we have only being receiving £144pm.

I received a pay rise in Sept 2014 from £25k to £28k then started in a new position in Jan 2015 at £30k; HMRC were informed on both occasions and we had a letter last week asking for £580 and we thought that was our overpayment Jan to April, as payments stopped after April. Now we're being asked for £6,000; surely that cannot be right!?

I know my wage is the norm for an engineer but my wife doesn't work and when we take our outgoings from our ingoings we have just barely enough to feed us and fill the car each month (never enough for long term planning/saving, we have to 'wing it' with MOTs). We've cut all luxury items, the only thing I can think of getting rid of now is my pension and life insurance, all other outgoings are utilities. Or maybe sell my car and cycle to work, saving us £200pm (petrol/insurance).

Apologies for the rant but my wife and I were doing just fine getting by, just feeding ourselves and the kids and understood we could never have luxuries nor holidays (our last holiday was a family paid honeymoon four years ago) and now HMRC come along and want to mess up the status quo...

What should I do, dispute it? My wife says she rung up and everything is correct but it just doesn't add up to me!

Is the £6000 only from one tax year? Could it be old overpayments all added together?

Also, what was your total 13/14 income? A £5000 rise would not cause an overpayment in 14/15 due to the disregard.

IQ

too_much_debt

zagfles wrote: »

Did he get a payrise last year?

The figures you've posted show that he's getting taxed on the full "total gross", assuming he has a 1060L tax code, but they look a bit odd, how come May is lower than April? And what does "Stak'able Gross" mean?

May total gross times 12 = 28353.96, so if his salary is £30k+ something is being deducted?

What is the bottom line for both months, ie what he actually got paid? I ask because sometimes the pension conts are done by salary sacrifice and the "total gross" already has the pension conts deducted, they are listed for info only (like the employer conts are).

Thanks for replying.


When they gave him his P60 they said they had paid him £500 too much (via the London Weighting) and that they would be deducting this from his pay over the next few months.


His April pay was 1846.94, his May pay was 1750.90