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Would I have to repay WTC?
jackieblack
Posts: 10,569 Forumite
I recently started claiming WTC.
There is a chance that I may be offered a few extra hours a week, which would take my earnings above the limit and out of tax credit system.
If this happens, will I have to repay the WTC I have already received this tax year?
There is a chance that I may be offered a few extra hours a week, which would take my earnings above the limit and out of tax credit system.
If this happens, will I have to repay the WTC I have already received this tax year?
2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shading
Everything will be alright in the end so, if it’s not yet alright, it means it’s not yet the end
MFW #4 OPs: 2018 £866.89, 2019 £1322.33, 2020 £1337.07
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £1350
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £1350
2025 target = £1200, YTD £9190
Quidquid Latine dictum sit altum videtur
0
Comments
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I'm not 100% sure exactly yet (and I might not even get the extra hours)
Last year's income won't change (approx £11250), but if I do get offered the extra hours these wouldn't start until September and would increase my income by approx £40ish per week, but wouldn't be every week, probably about 25/30 weeks remaining in the financial year.
I'd like to take the extra hours (if I'm offered them) but need to know if I'll be worse off, in the short term, if I'll have to repay the WTC I'm getting atm
(I'm currently working 30 hrs pw)2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shadingEverything will be alright in the end so, if it’s not yet alright, it means it’s not yet the endMFW #4 OPs: 2018 £866.89, 2019 £1322.33, 2020 £1337.07
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £13502025 target = £1200, YTD £9190
Quidquid Latine dictum sit altum videtur0 -
Ok, thank you
I can't imagine I'm going to earn more than about £12500 this year including the extra hours, if I get them2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shadingEverything will be alright in the end so, if it’s not yet alright, it means it’s not yet the endMFW #4 OPs: 2018 £866.89, 2019 £1322.33, 2020 £1337.07
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £13502025 target = £1200, YTD £9190
Quidquid Latine dictum sit altum videtur0 -
Most changes not until next year0
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