Child Tax Renewal - Knowing This Years Income

clare1angel

Hi All,

So our renewal has come through and I just wondered if I have to put in last years earnings or can I put what we'll get this year as I know the figures due to hubby getting a works pension (had to retire early due to ill health) and we also receive benefits for our son.

The monthly amounts are set so I know what we'll get and I just thought it may help so that we don't end up with any overpayments that they want straight back etc.

It was just a thought as I know if earnings do change during the year you can let them know and they check your payments so seemed a good idea but just wasn't sure lol

Thank you :-)

olgadapolga

clare1angel said:

Hi All,

So our renewal has come through and I just wondered if I have to put in last years earnings or can I put what we'll get this year as I know the figures due to hubby getting a works pension (had to retire early due to ill health) and we also receive benefits for our son.

The monthly amounts are set so I know what we'll get and I just thought it may help so that we don't end up with any overpayments that they want straight back etc.

It was just a thought as I know if earnings do change during the year you can let them know and they check your payments so seemed a good idea but just wasn't sure lol

Thank you :-)

You have to use last year's (2022-2023) income figures for your renewal as it's checking you were paid the correct amount of tax credits during that tax year.

sheramber

Renewal is to confirm that the correct payments have been made,

You can then notify them of the new figure for the current year.

clare1angel

olgadapolga said:

clare1angel said:

Hi All,

So our renewal has come through and I just wondered if I have to put in last years earnings or can I put what we'll get this year as I know the figures due to hubby getting a works pension (had to retire early due to ill health) and we also receive benefits for our son.

The monthly amounts are set so I know what we'll get and I just thought it may help so that we don't end up with any overpayments that they want straight back etc.

It was just a thought as I know if earnings do change during the year you can let them know and they check your payments so seemed a good idea but just wasn't sure lol

Thank you :-)

You have to use last year's (2022-2023) income figures for your renewal as it's checking you were paid the correct amount of tax credits during that tax year.

Thank you I just wanted to check before filling it out online :-)

clare1angel

sheramber said:

Renewal is to confirm that the correct payments have been made,

You can then notify them of the new figure for the current year.

Thank you, that makes sense now so I'll fill it all in and then let them know the new figures a while after :-)