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Tax Credits

(6 Posts)
NeighTrumpSnort Thu 17-Nov-16 07:58:07

DH was made redundant September. Previous to that he was a high earner so we were not entitled to any benefits.

When working out what we can claim the benefits are worked out on tax years 15 -16 when he was still employed.

Is there anyway to claim for the current tax year as our income has drastically changed.

Meadows76 Thu 17-Nov-16 08:04:50

Yes you have to tell them at EVERY change in circumstance so they adjust your award accordingly.

Meadows76 Thu 17-Nov-16 08:06:21

Sorry to thought you were talking about your tax credit claim, but the reading I may have got the wrong as you say he was a high earner?

Cakedoesntjudge Thu 17-Nov-16 08:12:51

If it works the same way it did 4 or so years ago then yes - they can do it off an estimation of this years' earnings. Be wary of getting the figure bang on though - when I did this I ended up being off the mark a bit and ended up having to pay them back a fair whack of money!

Babyroobs Thu 17-Nov-16 12:23:51

I think it will depend on your joint earnings from April- sept this year. If they are over the threshold then you won't get anything this tax year until the new tax year starts in April 2017. If you are earning also then you you need to estimate your full years earnings + what your dh earnt form April- sept.Also you don't know that your dh won't get another job soon. How many kids do you have? The threshold for one child is around £26k and around £32k for two.

Babyroobs Thu 17-Nov-16 12:26:15

Just to add if your dh got another job soon and you had claimed on the basis of him not earning for the rest of th tax year then you could end up owing a lot of money back to them. They also disregard the first 2.5k drop in income when calculating any tax creidts.

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