tax credit overpayment help

[coffeechoc]

Beginning of tax year I worked part time hours and estimated income was correct. I am now working full time hours and have also worked a lot of overtime and my estimated income has gone up to over £8000 more than previously. This is as of beginning of November. I notified them straight away of the changes. Does this mean I will now need to pay back everything from this year? Will this be asked for as a lump sum or will this be taken back gradually next year. I dont believe I will entitled next year. Thanks for your help, it's a worry.

If you notified them at the beginning of November you must have gotten the revised award statement which will tell you how much you’ve overpaid and how you need to pay it back.

Also you shouldn’t have to pay huge amounts back because the payments you still have 3.5 months left for the adjustment.

You also have £8000 spread over those months so you should be fine.

I was in a similar situation and ended up with quite a hefty bill at the end of the year. Call them and find out the exact amounts now, so you can plan to repay whatever you've been overpaid. I'm repaying mine over 5 equal monthly payments.

Thanks for the replies. I'm keeping them updated and have notified them Nov and again just last week. I'm working a lot of extra hours
I'm expecting to have to pay back everything that I received the beginning of the year. Now that I've notified them, I'm not due any further payments. I've received around £800. @KellyHall was that an agreed payment plan?

Yes, when I got the overpayment notice I called them and suggested what I would be happy paying each month, over the course of a few months, and they agreed.

If your earnings increase significantly meaning that you would no longer get any tax credits then you would have to pay money back.

Thank you for replies. Will it be as simple as I will only pay the amount I have been paid back?