I overestimated our income - how do CTC refund you and anyone know how much I might get?!

[EggsOvaryZee]

Just done my renewal over the phone - sooooo much easier than last years form filling!
I think I've overstimated our income by about £2,500! Said we'd earnt 27K when it's more like 25K.

I've never had this happen before - it's normally the other way around - please could someone let me know does this mean we'll get some money back?!
If so, anyone have any idea of how much - not the £2,500 obviously!
And how/when dot hey pay this? Is it it one go? Spread over the year, or what? Do you have to tell housing or anyone else etc...?!
Thanks so much....

They may only backdate payments for the last three months.

Well, you wouldn't get 2,500 back any way as tax credits aren't pound for pound. I am assuming that it will be a fairly minimal amount of tax credits you receive on that income so I would ring up & explain your mistake asap.

Don't think you will get anything as they introduced a new income disregard thing that if your income is diff by 2500 or less than estinate you don't get anything. I always overestimate my income as I am part time and get bonuses but really hard to guestimate. This time for the first time ever, my salary is 2 grand less but they do not make any diff for this. This tax year I believe the disregard is 5K. yet the 10K increase is still in place??!!

The income fall disregard applies to awards from April 2012 onwards, so yes you should get something, up to a maximum of 1025 pounds (41% of 2500). Not sure whether housing benefit payments take tax credits into account, so worth phoning them to check when you get your final award through.