How will tax credits be calculated?

Debtfreestudentnurse

Just finished uni and starting work in September, so obviously not earning a full years wage.

How do I work out what I’ll receive September to April?

The calculators only seem helpful for a full wage for the year. Last year I earned nothing as I was a student.

Based on a full years wage I’m not entitled to any tax credits.

[Deleted User]

If it’s a new claim your on about than you can’t apply, it’s all done through universal credit now.

Debtfreestudentnurse

It’s not a new claim. It’s a change of circumstances.

sheramber

Tax credits are provisionally calculated on the previous year's income but are adjusted after the end of the year based on the actual income for the year.

There is a disregard of £2500 up or down.

Once you get your estimated award you need to advise HMRC of your estimated income for the current year so that you are not overpaid at the end of the year.

details here https://www.litrg.org.uk/tax-guides/tax-credits-and-benefits/tax-credits/what-income-will-be-used-calculate-my-claim

just_trying

By now you would have had your renewal. This would have been based on last year's payments and what you'll earn this year. If this is wrong phone them. You'd better phone in April to and if your payment doesn't stop keep the money aside if you think you'll earn to much.