Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ymakesmile
    • By ymakesmile 8th Apr 18, 2:28 PM
    • 460Posts
    • 1,015Thanks
    ymakesmile
    Tax credits question
    • #1
    • 8th Apr 18, 2:28 PM
    Tax credits question 8th Apr 18 at 2:28 PM
    Could anyone help clear this up for me, as I have read how tax credits are worked out and its so confusing.
    Income as follows 2016-2017 9800
    2017-2018 gave 28000 but actual was 26000
    2018-2019 is 27300

    I am guessing from what tax credits we received that the 2017-18 award was based on 28,000 minus the disregard of 2500. So my question is that when I give the final amount in for the year as 26000. Will our final award for 17-18 be based on 26,000 so therefore we would of been overpaid or will it be based on 26,000 minus the 2500 disregard? Plus what will the 18-19 award be based on?
    If anyone can make sense of that for me I would appreciate it. Thank you!
Page 1
    • Darksparkle
    • By Darksparkle 8th Apr 18, 7:49 PM
    • 5,293 Posts
    • 3,461 Thanks
    Darksparkle
    • #2
    • 8th Apr 18, 7:49 PM
    • #2
    • 8th Apr 18, 7:49 PM
    2017/18 will be recalculated on 23,500.

    2018/19 will be based on 26,000 unless 2018/19 income increases decreases by 2,500.
    • ymakesmile
    • By ymakesmile 8th Apr 18, 8:06 PM
    • 460 Posts
    • 1,015 Thanks
    ymakesmile
    • #3
    • 8th Apr 18, 8:06 PM
    • #3
    • 8th Apr 18, 8:06 PM
    Thank you for that! That is what I thought but was driving myself mad trying to figure it out from what I had read about disregards etc...
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,403Posts Today

9,080Users online

Martin's Twitter