Can I claim working Tax Credits?

Matthew_Garside

I was unemployed between June 2014 and May 2015 so that tax year earned arround £6500 including benefits. I am now employed full time, earning on average £1250 a month pre tax.

I thought working tax credits were worked out on the previous year? Does this mean I qualify for something now?

Caz3121

Matthew_Garside wrote: »

I thought working tax credits were worked out on the previous year? Does this mean I qualify for something now?

they are worked on the previous year unless the current year is >£5k or <£2.5k difference
If last years income was £6,500 and this years is due to be £13,750 (11 months x £1,250) then when you make a claim they will initially base the award on the £6,500. You should then contact them and advise that your current years income is due to be £13,750 (if that is the correct estimate) and they will amend the award and base the payments on an income of £8,750 (your income less the £5k disregard) - If your income remains the same you will not qualify for any tax credits post April 2016 (assuming single, no children, no disability)
If you apply and do not advise them of the current income, come next year you will have a overpayment to pay back. (it is always your responsibility to advise of changes)