Tax credits - over estimated questions?

HannahCF

I over-estimated my wage for tax credits by 5k. Tax credits estimated my annual wage for 10k when I actually only got paid 5079. I have received my renewal pack and renewed online. I have heard through other people that because I over-estimated my annual wage, they will back pay me money that they owe. Is this true? Also, unfortunately I have had to give up my job to care for my son who is disabled. I was told I can claim carers etc and that I would still get the working tax element because they owe me money from when I over-estimated... Would I still get working tax credits? Or will they just give me a lump sum instead?

Any help would be much appreciated as I have no idea.

Thanks in advance.

Darksparkle

HannahCF wrote: »

I over-estimated my wage for tax credits by 5k. Tax credits estimated my annual wage for 10k when I actually only got paid 5079. I have received my renewal pack and renewed online. I have heard through other people that because I over-estimated my annual wage, they will back pay me money that they owe. Is this true? Also, unfortunately I have had to give up my job to care for my son who is disabled. I was told I can claim carers etc and that I would still get the working tax element because they owe me money from when I over-estimated... Would I still get working tax credits? Or will they just give me a lump sum instead?

Any help would be much appreciated as I have no idea.

Thanks in advance.

I assume the income you have mentioned is for 2015/16?

If so then any money owed will also depend on what you earned in 2014/15.

If you are owed money from 2015/16 then yes it will be paid as a lump sum.

If you aren't working now you can no longer claim WTC. You'll need to inform them of the change within 30 days of it happening. You'll also need to inform them you are on carers allowance.

(This assumes you are single or if you have a partner they don't work enough hours to claim WTC for you both)

HannahCF

Darksparkle wrote: »

I assume the income you have mentioned is for 2015/16?

If so then any money owed will also depend on what you earned in 2014/15.

If you are owed money from 2015/16 then yes it will be paid as a lump sum.

If you aren't working now you can no longer claim WTC. You'll need to inform them of the change within 30 days of it happening. You'll also need to inform them you are on carers allowance.

(This assumes you are single or if you have a partner they don't work enough hours to claim WTC for you both)

Sorry yes, its for 2015/16. I'm still working, I have to work 2 weeks notice. Do I call them when I have worked my full notice? Oh and yes, I am single.

Darksparkle

Yes you call them once you've finished working. You'll be entitled to WTC for an additional 4 weeks from the date you finish then it will stop and just be CTC.