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Tax Credits Advice Please
pbsmiles
Posts: 102 Forumite
Hello
I have never been in a position to claim, however last year I went part time and my earnings dropped so this tax year should product about 22k earnings. I have been sent through the claim form, can you advise me on the best tips when completing it and is there anything that i should look out for. The previous year I earned 33k so I need to really stress that my situation has changed.
Thank you.
:T:T:T:T:T:T:T
I have never been in a position to claim, however last year I went part time and my earnings dropped so this tax year should product about 22k earnings. I have been sent through the claim form, can you advise me on the best tips when completing it and is there anything that i should look out for. The previous year I earned 33k so I need to really stress that my situation has changed.
Thank you.
:T:T:T:T:T:T:T
0
Comments
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Top tip: Read the notes
Top tip 2:. Be accurate, particularly with details of last year's income
Top tip 3: Expect your award to be based on £33000.
Top tip 4: AFTER you have received your award advise tax credits of your current circumstances0 -
If you don't know, ask. Don't try to guess.0
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Dazed_and_confused wrote: »Top tip: Read the notes
Top tip 2:. Be accurate, particularly with details of last year's income
Top tip 3: Expect your award to be based on £33000.
Top tip 4: AFTER you have received your award advise tax credits of your current circumstances
Why would I wait to tell them change of circumstance when its already happened?0 -
If you have a look at the form, it only asks you for last year's income.0
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Have you read the claim form?
If so what income does it ask for?0 -
Darksparkle wrote: »If you don't know, ask. Don't try to guess.
What do you mean by this please clarify0 -
Hello
I have never been in a position to claim, however last year I went part time and my earnings dropped so this tax year should product about 22k earnings. I have been sent through the claim form, can you advise me on the best tips when completing it and is there anything that i should look out for. The previous year I earned 33k so I need to really stress that my situation has changed.
Thank you.
:T:T:T:T:T:T:T
Presuming you earn £22k this coming year, your claim will be based on £22k + £2500. For the purposes of tax credits, your income will £24,500. So i you want to work out roughly what you'll be entitled to, put your income in as £24,500.0 -
Disagree, the claim will be based on £33000.
Op can then update income with tax credits and the revised claim will be based on current year income plus disregard.0 -
Dazed_and_confused wrote: »Disagree, the claim will be based on £33000.
Op can then update income with tax credits and the revised claim will be based on current year income plus disregard.
Correct.
The initial claim will be based on 2015/16 as per the claim form and the OP will be required to contact HMRC once the claim has processed to report a change to 2016/17 income.0 -
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