tax credit query

[stormlady]

hi
can anyone help me please. im so confused with it all.

basically,
previous year actual income £20800
current year income £29100 approx........still dont have my p60 from work

my hours increased at work as did my salary in january on a temporary basis. i informed the hmrc of the changes and that my hours went up from 20 to 36straight away. payments stopped after receiving a on off payment of £152 in february.
i cant work it out, can anyone advise me if im overpaid, underpaid, will i get tc this year??

thanks in advance.
sl

[FlamingParrot]

Re: tax credit query

There are many factors that influence tax credits entitlement. You may want to use HMRC's online calculator to get an idea: http://www.hmrc.gov.uk/taxcredits/pa...n-how-much.htm

[stormlady]

Re: tax credit query

There are many factors that influence tax credits entitlement. You may want to use HMRC's online calculator to get an idea: http://www.hmrc.gov.uk/taxcredits/pa...n-how-much.htm

i dont know what figure to put in the calculator, last years salary or this years?? im worried sick about this.

[des8]

Re: tax credit query

Depends on whether you're concerned about last year or this year.

[insertusername]

Re: tax credit query

Hi, when working out the amount of TC due HMRC use previous years income, unless you current years income is more than 5k higher or less than 2.5k lower.

If you have gone from 21k to 29k, your current award will be based on 26k. (21k py income + the 5k disregarded)