tax credits renewal - hv just renewed tax credits on monday phoned hmrc as partner earns over threshold. when will payments stop

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Hi

Rang hmrc mon to update them as partner earns over new limit
Will payments stop straight away?!
Due a payment tom?
Said it could take a few wks and they would send awards

If they say it could take a few weeks then expect to keep receiving payments and also plan that they might want the money back at some stage. Keep any money you receive from now on in a savings account and then if/when they ask for you to reimburse them, it's not going to cause you a problem.

We've just had payments stopped - didn't go into account on Thursday and today received letters basically saying we will get nothing henceforth - also saying we owe £84 (for the to payments made since new tax year started) but not if we will be expected to repay - assuming not given that they are the ones who have changed the goalposts. And why didn't they get the forms out before the new financial year started. Furious and fed up.
sure we are not alone but it doesn't make it any easier to stomach. We are hardly well off - grrr!

You'll be expected to repay. The 'goalpost' change was flagged many months ago and if HMRC say 'you owe us £x' they usually expect to receive. it.

Yep we had letter through saying we'll now be getting nothing from now on and we owe them £350 - apparently they're going to deduct it from future payments - not sure how as they're not paying us any more!!

I had a letter saying I owe them £96.

Struggling to understand exactly how as I had just one payment of £65 in April.

never mind. Im glad I am over the threshold so I dont have to deal with the same shit every year worrying that I have had a massive overpayment.

The letter I got included some line about 'you have elected not to receive tax credits' (not the exact words) which made it sound like it was me politely turning down HMRC rather than the rules having changed.

Don't think they ever clarified when the goalpost change was going to happen did they? Yes, ours says that they will deduct it from future payments too but nothing about whether we will have to pay it back or how. Even if they did flag up months ago that they would change the goalposts still can't help but think that they should have got the initial letters out before the end of the last financial year. Or just not paid anything until they had checked out whether we were a changed goalposts family. Why should we be out of pocket for a decision that they have through their own tardiness made later than they should have done.
We are what I would consider to be an 'educated' family.

We received three different letters (unnecessary waste methinks) and to be quite honest, although I understood the bottom line, it was so cloaked in wordiness and figures that meant nothing to me that I did quite despair.
We will be living on gruel from now onwards! Not so far off the truth either!

whats the income limit anyone? we pay £72 a week childcare as well - does this affect the limit? just doing dhs self assesment or was but the site is down then was going to ring in my tax credit renewal - reading this im now worried i will owe.

Tax credit eligibility was reduced for families with a household income over £40k from April 2011. This online Benefits Checker is a good way to work out your likely award for 2011/12 based on your current circumstances.

NB.... According to this HMRC link there will be further changes in 2012/13. And child benefit will be going for higher rate taxpayers in 2013.

2013 I thought it was 2012?

Not according to this statement from the Chancellor. 2013 is the plan and I would assume that's going to be April 2013, being the start of the tax year. The higher rate tax threshold tends to change annually but is usually available after the budget announcement.

thanks - when will thebudget announcement be then?

If I knew that I'd have a bet on at Ladbrokes :) Usually March/April. The last one was March. The previous one was last June but that was an 'emergency budget' post the election.

Well me and my husband have just renewed our tax credits and have been told that because we earned over 17000 jointly we nolonger qualify for working tax credit so we are losing £200pm and just qualify for child tax the payments for working tax stopped straight away.When i asked about not being able to essential living costs they said it was not there problem and nothing they can do so we are screwed.

That's unfortunate linzweavers. Did you check their calculation through the online Benefits Checker to make sure they haven't made a mistake?

i have entered everything into the benefits checker and they said i should be entailted to £100.00pw phoned tax credits and they said it was wrong and has not been updated.so back to not getting working tax.