tax redit underpayment?

[tasha1223]

Hoping that someone may be able to help me out as i am completely Confused lol. My tax credits claim was checked last year and wasn't processed until dec. Tax credits said to issue me with an award they would need to estimate my earnings for 2013/2014. They came up with 15000. I have now recieved my p60 and the actual fugure is 3000. I called them up in feb to try and make them aware of this and.my payments went up by 8 pound a week. Will i be due a lump sum when i renew? Any opinions would be greatly appreciated. Thanks

As it was so close to the end of the tax year I believe they would hold off giving you a large lump sum (if you're due one) until you completed your renewal with actual figures. The systems wouldn't allow it to be classed as an actual income figure until the renewal was done, so they still consider it an estimate and as such would hold off giving a lump sum to avoid overpayment.

Help!! I've renewed tax credits a week ago! My income for year 12/13 was 5880 last year I was only mat leave and was claiming smp so this years income 2014 is only 1650 does this mean they owe me money or I owe them?

Thanks so much. Was totally confused as i have never had an estimate figure before. A lump sum would be lovely. Does anybody have any idea of how much i could be owed? Lozzie i'm pretty sure they will have underpayed you. :)

Thank you :) I hope so! How long do they usually take? I done it a week ago but the women said could take up to 8 weeks! Anyone had there's before estimated time?

I usually get mine no longer than 2 weeks. Just last year was a nightmare when they checked it. In dec they still hadn't finalised it hence the estimated figure. Remember if you are due a payment you will have it in your account before the award notice comes through :).

Ok thank you for your help! Hope it comes in a lump sum and not spreaded through the year as that will come really useful now! :)