Working Tax Credit - do I need to pay back money?

tonideportivo

Hello, everyone. I would like to say thank you to all of you in advance and that I'm not really aware of this working tax credit how does it work. I don't understand the following:
I applied for a joint tax credit and we got approved.
Today we received the money we're entitled to.
Then my girlfriend asked me:
- Are you sure we don't have to pay this money back to the government? Probably it is like a loan or something and we would have to pay these money back with an interest fee...I mean that's why it's called tax CREDIT isn't?
Then I got really really confused, because until that moment I was sure it's like a help from the government to help you manage your living.
Now I'm not sure and I thought it would be useful to hear your opinion.
Thank you!

Caz3121

you would only need to pay part or all of the money back if your income increased from the previous years income used in the award calculations to a level where you would be entitled to less (or no) tax credits and as a result you had received more money than if the actual income had been used in the calculations initially. Tax credits work in full tax years and initially bases on previous years income
previous years income - £10k award based on £10k
this years income - £12k...fine no overpayment
this years income £17k...part overpayment
this years income £30k...assuming no children then 100% overpayment

konark

Your girlfriend has the right idea about this Government !

Don't be giving George any ideas.

tonideportivo

Hello again,
Thanks for the information given it's really useful.
In april or may I'll be leaving the country for around 7-8 months. What should I do then?
Obviously I'm not going to claim tax credit for this passing year and 2016 as I'm not going to be here.
Does this change anything?