Confused about Tax Credit Calculator

fd1972uk

Hi,

I phoned up Tax Credit Office and they are sending out forms to me.

I went on gov website and did the calculator, and it seems that I am due nothing, which sounds bizarre as I am now redundant.

I had earned in last tax year £24075 and the wife £10202.

I couldn't see anywhere asking about this year, at the start of July I lost my job, so basically I've earned 3 month money (still to get 12 weeks notice period paid in lieu), however that will be it. My wife will be the only income of £11440.

Surely it can't be right that we are due nothing.

Yeah, I'm hoping a job will make it's way to me, but there is never a guarantee of that.

Am I doing something wrong, have I missed something on the gov website for a different type of claim due to my circumstances changing?

Hope someone can advise.

Any more info, just let me know.


TIA


FD

Darksparkle

https://www.gov.uk/tax-credits-calculator#before-you-start

Without knowing more about your income for this tax year or your circumstances I couldn't say if you are entitled.

Tolly_T

Hi, you can put the figures that you know for this year into the calculator as these are more relevant and will give you an idea of how much you might receive. If your figure for the current year is significantly different from the previous year they can use your estimate for the current year to calculate the amount due to you. If you do get a job before the end of this tax year you may have to repay all of the WTC received while you were out of work because the award is checked at the end of the financial year using actual figures for the whole year. There is a chance that they'll use your income for this year + £2,500 as your income because they ignore the first £2,500 of any reduction. I'm not sure how this works but it's something to look into, or just keep in mind. It's worth putting a claim in and letting them work out if you're entitled even if the calculator indicates that you might not get anything as it probably doesn't include all the information that the proper calculation requires.

fd1972uk

Yeah it's weird, there is nowhere on the calculator that I could see mentions about a change in circumstances and I am only following the requirements that it allows me i.e. Apr15-Mar16 figures? Weird, just don't follow it.


FD

Caz3121

fd1972uk wrote: »

I had earned in last tax year £24075 and the wife £10202.

I couldn't see anywhere asking about this year, at the start of July I lost my job, so basically I've earned 3 month money (still to get 12 weeks notice period paid in lieu), however that will be it. My wife will be the only income of £11440.

Surely it can't be right that we are due nothing.

tax credits works in full tax years so you need to estimate your personal income for this year. If you do not work for the rest of the year, your income will be around 50% of the year so total would be £22.2k v's £34.3k in 15/16
As the amount is more than £2.5k lower than the previous years income they would add £2.5k to it and base the award on £24.7k (tax credits payment then depends on how many children you have)
If that was your only income for the tax year 16/17 and your wife income remained the same you would have £22.2k 16/17 actual £11.4k 17/18 estimate giving an award based on £13.9k from April 2017

Darksparkle

fd1972uk wrote: »

Yeah it's weird, there is nowhere on the calculator that I could see mentions about a change in circumstances and I am only following the requirements that it allows me i.e. Apr15-Mar16 figures? Weird, just don't follow it.


FD

Did you see the link I posted? It tells you there.

Lanzarote1938

Do you have children or are you just thinking about working tax credit?

fd1972uk

DarkSparkle - Yeah, sorry, I notice now what I need to do, just weird how it works.

Lanzarote - Yes, I have a child.


FD

redmalc

My son as been on to the online chat today and still not sure,in a nutshell i earn 18800 and my partner 21k but a few weeks ago my partner lost her job and found a new one at £14200 so a large drop.
we have one child who goes to nursery and the cost is 180 per week they are telling us we are not entitled to anything,we have never claimed before but find it hard to accept on those figure,any comments would be helpful
Thank You

Darksparkle

redmalc wrote: »

My son as been on to the online chat today and still not sure,in a nutshell i earn 18800 and my partner 21k but a few weeks ago my partner lost her job and found a new one at £14200 so a large drop.
we have one child who goes to nursery and the cost is 180 per week they are telling us we are not entitled to anything,we have never claimed before but find it hard to accept on those figure,any comments would be helpful
Thank You

What was the household income for last tax year (April 2015 to April 2016) and what do you expect it be this tax year (April 2016 to April 2017)?

redmalc

firstly i must apologise i meant to start a new thread
income last year was £39800
this year will be £34,100

Thank you