Tax credits underpayment or not?!

esellek

Chatting with a friend who is in similar circumstances she thinks she is getting a large underpayment payment in April for tax credits and also a refund of underpaid WTC. I've tried to work it out what with the disregards thing and none the wiser! Don't know if anyone can shed a light bulb on the situation! A little piece of happy £ would be welcome as husband needs dental work!

16/17 income £17019 (this is my income + income from husband when he was paid carer's allowance and was in receipt of volunteer armed forces services pay).

17/18 income £14039 (only income)

I have checked the online gov and it seems from May I will be paid WTC (c£65 on the 4 week cycle)

Current CTC = c£642 (4 week cycle). The online payments list only goes to March so don't know of the change from April.
3 children (2 doing A levels, one a new teenager!)

Friend thinks that I am due quite a large underpayment payment - I don't know because of the disregard and think if there is one, it'll be about £150. And she thinks that I should be due an underpayment for WTC - not sure about that.

Thank you for any enlightenment!

Darksparkle

Haven't you already finalised your 2017/18 claim?

We are in 2018/19 now so if you mean an underpayment for the current tax year then it would depend on your 2017/18 income and 2018/19 income.

esellek

Hi

Ah yes, sorry, I meant 18/19 for the £14k (should put my glasses on lol)

For the 18/19 figure, I am using the income that's shown on the PAYE part on the gov gateway for the 18/19 tax year.

Darksparkle

Then you are correct, any underpayment would only be approx £150-200 depending on what estimate you provided for 2018/19

esellek

Thank you, I'll let my friend know that her calculations, based on mine, are way out and not to book a holiday!