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WTC overpayment , how is it paid back ?

justwhat

justwhat Posts: 708 Forumite

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7 April 2021 at 6:28AM in Benefits & tax credits

My partner and i are SE. Our profit is approx 17k over our estimation for last year.

How will they take repayment on WTC?
Also we will defiantly not make a profit anywhere near what we made last year . eg. if HMRC estimate last years profit for next years then it will be incorrect.

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Comments

calcotti Posts: 15,696 Forumite

7 April 2021 at 7:49AM

https://www.gov.uk/tax-credits-overpayments/repay-your-tax-credits

Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.
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ladysummerisle Posts: 125 Forumite

7 April 2021 at 11:45AM

You can change your income estimate online. For example I’m going to be on maternity leave so updated it with an estimate for the adjusted pay.

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calcotti Posts: 15,696 Forumite

7 April 2021 at 12:13PM

justwhat said: Also we will defiantly not make a profit anywhere near what we made last year .

I realise it's a typo (or autocorrect in action) but I like the idea of defiantly not making a profit. Strike a pose!

Information I post is for England unless otherwise stated. Some rules may be different in other parts of UK.
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