To ask if anyone understands tax credits?

[SpringSunshineandTulips]

Specifically the overpayment?

We were over paid a year or so ago and owe them quite a bit. I’m looking at what they have worked out we will be paying back this year and it makes sense except for one bit.

It basically details we owe x amount from 5april 2020. Then says what they’ve collected back already, what we’ve paid back already, how much they are taking off of this years award but then it says that x amount is an adjustment to our our record right!!!!
Does anyone know what this means?

It also then says what we will owe next year but doesn’t appear to take into account that we are paying them back monthly too?

Sorry that should say £x is an adjustment to put your record right.

I will probably end up ringing them but trying to save myself a few hours of hassle.

Even the tax credits people don’t understand tax credits 🤪

Sorry that is no help at all but I stopped claiming just because of the complexity of their workings out, it drove me bonkers and I constantly worried about being overpaid due to my dh being self employed.

Yep. We are both self employed and this is why we owe them a chunk. I guess will have to ring them but not looking forward to it.

Op most def use the online chat service.. It is truly life changing!!
They have to give you years to repay an overpayment.. Even longer if you offer to do a financial disclosure form.
They will bully you for shorter repayment times but stand firm.

Do they mean there is a one-off adjustment where you will receive a different amount than normal (or sometimes an extra payment) one week and then static amounts after that?

It might be easier if you post a photo of the letter (without identifying information).

I will never understand them! We apparently had an over payment last year even though I gave them accurate earnings!

I would love to know the answer too. And I should be earning a bit more from September but actually dreading it solely due to tax credits.

I stopped claiming as the hassle with them was ridiculous! I rang them up lots to inform them I had a pay rise and that the amount I received needs to reduce. The amount each time stayed the same. I rang again they assured me it was correct. Again the amount stayed the same. Then months later I got a letter saying I owed them money! I paid it and said I no longer wished to claim it wasn't worth the hassle.