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Under-estimated self employed figure

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When submitting my last tax credit figures, I estimated my OH's figure based on last years earnings. The figure has just been finalised and it is £2,000 more than the estimate.


Does anyone have any idea what the effect will be on the payments.


The figures are:


OH - £18,005 (this was estimated as £16,000)


Me - £4,556


Carers (Me) - £3190


Thanks.
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Comments

  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    What was 2013/14 income?

    What was estimated for 2015/16?
  • carrot_cake
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    What was 2013/14 income?

    What was estimated for 2015/16?



    The figure for 13/14 was £15,500 (OH)


    My figures stay roughly the same every year as I cannot work extra due to caring for a disabled child.


    The estimated figure for 14/15 for OH was £16,000. (Actual figure £18,005)
    My figures of £4,556 / £3,190 (carers) are actual figures.


    I just wondered how much difference the extra £2,000 for OH would make to the current payments?


    Thanks. (Hope that all makes sense).
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    The figure for 13/14 was £15,500 (OH)


    My figures stay roughly the same every year as I cannot work extra due to caring for a disabled child.


    The estimated figure for 14/15 for OH was £16,000. (Actual figure £18,005)
    My figures of £4,556 / £3,190 (carers) are actual figures.


    I just wondered how much difference the extra £2,000 for OH would make to the current payments?


    Thanks. (Hope that all makes sense).

    Exact details would be needed.

    There may be an overpayment for 2014/15 which would affect this year. Or it may be fine.

    You might have also been overpaid this year. Or again it might be fine.

    It's based on the total household income each year, rather than each individual.
  • carrot_cake
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    Thanks, I will have to call them with the actual figures and just see.


    I thought there were "bands" (like Council Tax) whereby they worked out your entitlement and wondered if it would make much difference.


    They worked out 14/15 figures based on 13/14 years' earnings - £16,000 (although it was £15,500). When I submitted the last lot of figures I told them to estimate OH's at £16,000 (going on the previous year's actual figure) but this has been calculated at £18,005 for 14/15.


    I'm sorry if this all seems a bit messed up but I haven't got my paperwork to hand.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    Thanks, I will have to call them with the actual figures and just see.


    I thought there were "bands" (like Council Tax) whereby they worked out your entitlement and wondered if it would make much difference.


    They worked out 14/15 figures based on 13/14 years' earnings - £16,000 (although it was £15,500). When I submitted the last lot of figures I told them to estimate OH's at £16,000 (going on the previous year's actual figure) but this has been calculated at £18,005 for 14/15.


    I'm sorry if this all seems a bit messed up but I haven't got my paperwork to hand.

    No it's not done on bands. However they do have disregards. But far easier to explain with actual details.

    It's also based on the actual total income rather than each person.

    I understand you say you get the same each year but minimum wage increases every year and so can carers so unlikely to be exactly the same.
  • carrot_cake
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    No it's not done on bands. However they do have disregards. But far easier to explain with actual details.

    It's also based on the actual total income rather than each person.

    I understand you say you get the same each year but minimum wage increases every year and so can carers so unlikely to be exactly the same.


    Yes, sorry, I should have said. The carers figure for last year was as quoted (£3190) - for the previous year it was £3106, so a slight increase last year.


    My wage hasn't changed for the last 3 years, I have had no pay rise and work set hours so this doesn't change.



    I think (off the top of my head) the estimated total figure was around £26,000 - obviously it would actually be £28,000 for 14/15?
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    Yes, sorry, I should have said. The carers figure for last year was as quoted (£3190) - for the previous year it was £3106, so a slight increase last year.


    My wage hasn't changed for the last 3 years, I have had no pay rise and work set hours so this doesn't change.



    I think (off the top of my head) the estimated total figure was around £26,000 - obviously it would actually be £28,000 for 14/15?

    So are you already on more than NMW?
  • carrot_cake
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    Yes, I started on more than the NMW and am still receiving the same hourly rate.
  • Darksparkle
    Darksparkle Posts: 5,465 Forumite
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    Yes, sorry, I should have said. The carers figure for last year was as quoted (£3190) - for the previous year it was £3106, so a slight increase last year.


    My wage hasn't changed for the last 3 years, I have had no pay rise and work set hours so this doesn't change.



    I think (off the top of my head) the estimated total figure was around £26,000 - obviously it would actually be £28,000 for 14/15?

    Sorry to clarify, where is the £28,000 from?

    £18,005 + £4,556 + £3190 = £25,751.
  • carrot_cake
    carrot_cake Posts: 234 Forumite
    First Anniversary Combo Breaker
    edited 16 January 2016 at 10:24AM
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    That is an estimate as I don't have my award notice to hand but we also receive an amount for our disabled child, a basic element & a severe element which is added to our total income, well I think that's how it's worked out?

    EDIT: I think I've probably got the above all wrong. The allowances for our child wouldn't be added to our total income would it? Can you tell I'm useless with figures?!
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