Tax credits - New job oppurtunity, would I have to repay everything?

edited 30 November -1 at 1:00AM in Benefits & Tax Credits
4 replies 1.1K views
wishies_xwishies_x Forumite
93 Posts
edited 30 November -1 at 1:00AM in Benefits & Tax Credits
Hello,

I am currently part time but a full time job has come up at my place of work. It would be about a £12000 a year increase so .. alot!! Would I have to repay all of everything I had been paid in 2015/2016 .. or just everything I have had up to now for (2016-2017). I really want to work and not rely on benefits any more! But scared I will end up working more just to pay them back.

Thanks in advance x
2017 wins so far: Diddly squat :(
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Replies

  • DarksparkleDarksparkle Forumite
    5.5K Posts
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    What you earn this year has no impact on the tax credits you received last year.
  • BrightyBrighty Forumite
    755 Posts
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    Also, i believe there is a £2,500 disregard on income rises, so this years tax credits would be calculated on a rise of £9,500, not the full £12,000.

    Brighty
  • densol_2densol_2 Forumite
    1.2K Posts
    And of course, we are three months into this tax year, so its 3 months odd of lower wage and 9 months of higher wage plus the disregard above.
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  • NYMNYM Forumite
    4.1K Posts
    Eighth Anniversary 1,000 Posts Photogenic Combo Breaker
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    As the others have said, you'd only need to repay any over payments you've received for this year.

    Congratulations and good luck for the new job :D
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