Ok so I have another set of BR

scaredwitless32

forms to fill in, could someone just confirm, how to total monthly income when working and child tax credits are paid on a weekly basis..........should I just multiply the weekly amounts by 52 weeks then divide by 12 ? Or do you just times the weekly figure by 4wks?

Thanks lol

madoldbat

Hi.Scaredwitless32.
We get paid monthly so was not a problem,but I would think if you are calculating everything else monthly then x 52 and divide by 12 would seem logical.Sure someone will correct me if Im wrong.

scaredwitless32

Thanks for that madoldbat, thats just how I would do it, but just having a light debate with OH, who says just X by 4 lol..... as he is out numbered now , I shall do it my way :rotfl:

fermi

HMRC do it that way.

From: http://www.hmrc.gov.uk/manuals/dmbmanual/DMBM800120.htm

Income and expenditure details will often be given in a combination of weekly and monthly amounts. To help consistency in determining a figure of uncommitted income you will need to consider the whole situation in terms of monthly or weekly installments as the case demands. The following conversion formulae may be of assistance:

• Monthly to weekly – multiply by 12 then divide by 52
• Weekly to monthly – multiply by 52 then divide by 12
• Four-weekly to monthly – multiply by 13 and divide by 12.

If it's good enough for HMRC then it's good enough for the courts and the OR.:D

scaredwitless32

Indeed Fermi ! and for me also.........wouldnt dare argue with HMRC:rotfl:
Thanks didnt think to look there................:o

fermi

scaredwitless32 wrote: »

Indeed Fermi ! and for me also.........wouldnt dare argue with HMRC:rotfl:

I think a few people here might.:cool:

scaredwitless32 wrote: »

Thanks didnt think to look there................:o

Neither would I normally. Just happened to notice that the other day when reading that page for something else.:)