Tax Credit - unexpected amount

backinbusiness

Morning. Apologies if this has been asked before.

Unusual amount in the bank this am from TC. Unusual day. Not a Bank Holiday on Monday (usual day) and I haven't completed year end forms yet.

Any ideas please?

Thanks in advance,

BiB x

tea-bag

From what I have seen now your employer has to provide live data they have your end of year amount (P60) and it was less that you put on your claim. So you have received what was owed to you as a under payment.

densol_2

Mine stopped this week completely as they would have received the notification of redundancy payment , and yet to match it to my trading loss and deduct it to see real income ( low ) I have a feeling this is linked to when they send the renewal pack out as mine was sent last week ( apparently ) and lots of peeps have said they got an extra payment the week before their pack turned up.

too_much_debt

Last year I had an extra payment the day after receiving my normal payment. When I rang up I was told that when they generate the renewal forms it sometimes results in an extra payment.


I received my normal tax credits yesterday, checked today and no extra payment, will check again tomorrow to see if there is an extra payment. Hopefully I will get the renewal through soon so I know how much I'm going to be getting monthly for the rest of the tax year. I'd rather have it spread out over the year rather than a lump sum.

backinbusiness

I see what you're saying, but I haven't as yet completed any returns for the last tax year.

densol_2

backinbusiness wrote: »

I see what you're saying, but I haven't as yet completed any returns for the last tax year.

It's when they send out the renewal - I think it triggers something in the system to check the figures they got from PAYE real time before you send the renewal back

[Deleted User]

Also, a single extra payment can be a catch-up payment for the few days at the end of one tax year, or the beginning of the next, at the previous or new year's rates, if that makes sense.

Sellurgranny

Yes i had the same thing too this week. was a bit afraid to spend it incase it's a mistake. Have read a few others getting these extra payments recently so think its just them balancing the books. Nice surprise anyway.

cmcavon

I've had an extra payment today, about £4 less than usual weekly Monday payment.




I did submit final figures (self-employed) earlier this week which was slightly less than the estimated figure I gave them.


I am in a panic now thinking that my Monday payment won't arrive or will be less per week for the rest of the year! I am desperately hoping that this is just a correction payment and my normal weekly payments will continue, really hope they don't go down as I have read sometimes happens after a catch up payment.

densol_2

cmcavon wrote: »

I've had an extra payment today, about £4 less than usual weekly Monday payment.




I did submit final figures (self-employed) earlier this week which was slightly less than the estimated figure I gave them.


I am in a panic now thinking that my Monday payment won't arrive or will be less per week for the rest of the year! I am desperately hoping that this is just a correction payment and my normal weekly payments will continue, really hope they don't go down as I have read sometimes happens after a catch up payment.

That may be your new weekly payment as we were paid on Fri ( yeaterday ) as its a bank holiday in Scotland on Monday and a bank holiday anywhere in the UK means payments come the Fri before ( im England btw )