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Tax credit income rise threshold of £5000
restless6
Posts: 469 Forumite
Could someone explain how this affects me in reality, if, for example last year i earned £10,000 and this year it is £15,000 income.
Does the threshold of 5000 mean i dont see any difference in tax credits or just that i dont need to inform them until renewal?
Does the threshold of 5000 mean i dont see any difference in tax credits or just that i dont need to inform them until renewal?
0
Comments
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I think you could end up with an overpayment if you don't inform them during the current year.If you change nothing, nothing will change!!0
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Could someone explain how this affects me in reality, if, for example last year i earned £10,000 and this year it is £15,000 income.
Does the threshold of 5000 mean i dont see any difference in tax credits or just that i dont need to inform them until renewal?
Yes, you wouldn't have an overpayment for this year, next year would obviously be worked out on £15,000 though.0
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