Tax credit - anyone got a date for the £500 payment yet?

[JamesMiddletonsMarshmallows]

I see a lot of tax credit recipients will be getting a £500 lump sum rather than the £20 a week - but has anyone had it yet or had a date for it? I get a small amount of tax credits and can't figure out if I'm eligible for the £500

Like others, I'm waiting to see if we are eligible for the £500. We never formally stopped claiming WTC but started earning too much many many years ago! We still get some CTC because of the disability premium, else we'd over-earn for that too.

The idea of being "eligible for WTC" but earning too much, is hugely confusing. Do you have to be an active claimant?

Off point a bit but if some of you don't know already, getting wtc entitles you to open the governments help to save account. I really recommend looking into it as they give you half your savings at years 2 and 4 as interest. We got £2.20 in wtc last year so doubt we will get the £500.

I wish I knew if i was getting it or not! It’s absolutely fine if I’m not eligible but it’s the glimmer of hope that’s killing me...! Why on earth they can’t publish their guidelines (which MUST exist) and let people see for themselves I don’t know.

@EggysMom

Like others, I'm waiting to see if we are eligible for the £500. We never formally stopped claiming WTC but started earning too much many many years ago! We still get some CTC because of the disability premium, else we'd over-earn for that too.

The idea of being "eligible for WTC" but earning too much, is hugely confusing. Do you have to be an active claimant?

I'm not sure EggysMom, we are in a similar situation. We fulfill the requirements for working tax credits but earn too much, but we do receive CTC. We are in receipt of the £20 weekly uplift so I think that means we are entitled to the payment, but it feels too good to be true and I don't want to hope and then be disappointed!

@Reiningitin you'll have to let is know if the £597 is to do with Tax Credits. I didn't think that the one off payment would be issued yet as the new tax year hasn't started and I believed it was to be paid towards the end of April? I know my tax credits go down after April 5th due to the new tax year.

That said no one understand what's going on at the moment do they.

TCs are a life line for us but renewal is always such a horrible few months for me. My tax credits go down wrongly due to how my pension is paid. It takes months for them to sort it. So though its dropping next week to remove the covid uplift, it will then be dropped again when they get my P60 details. It then takes months of back and forth supplying evidence to prove that I actually pay tax on my pension contributions. I wish after 5 years of this it would be an easier process especially as I'm with the same employer. Sadly it's always a battle so I keep my fingers crossed that I will receive the one off payment to try and bridge some of the gap.

@SpideyMom yes I certainly will post if any text or letter arrives clarifying this payment.

I just got a text from HMRC saying one off payment by 23 April for working households receiving tax credits - its automatic so no action needed.

Assuming from that I am getting it?

That’s interesting, has anyone else had a text? I haven’t 😩

Do you have to be working full time to get it

This isn't fair really that they haven't been more clear on this.

I would have thought if you got the Covid uplift they you should qualify for the one off payment. The fact we don't know for sure is horrible just waiting

No text here either but pretty sure we should qualify

@Ele38 no you don't have to be working full time to be eligible for working tax credits

What covid uplift??

This is the text message I received today.

HMRC: One-off £500 payment by 23 April for working households receiving tax credits - it's automatic so no action needed. Search 'one-off payment' on Gov UK

I am in receipt of both wtc & ctc as of March 2nd.

I just refer to it as the covid uplift. I dont think it's the official name. But I mean the temporary increase they gave for 1 year

I never got a temporary increase for a year and yet i get wtc and ctc...how confusing.
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This is the text message I received today.

HMRC: One-off £500 payment by 23 April for working households receiving tax credits - it's automatic so no action needed. Search 'one-off payment' on Gov UK

I am in receipt of both wtc & ctc as of March 2nd.

@myusernamewastakenbyme

I never got a temporary increase for a year and yet i get wtc and ctc...how confusing. .

I was just coming to say the same thing! I don't think I had any increase - though they've spent March paying me £60 a week extra and then from April it drops down again by £70. It's a bloody pain in the arse, makes zero sense and I'm terrified to query it in case it somehow reduces my money again.

I just logged into that government gateway account on gov.uk where you can see all the tax credit payments...there is no sign of the £500 on there either.

@UnsolicitedDickPic mines dropping by about £26 a week in April too.

On the website they have updated it to say that the £500 payment won’t show on your online account. Just that payment will be made by April 23rd.

Ahh ok thank you...I don't think HMRC have my current mobile number so im not expecting a text...i guess its just wait and see.

You do not need to apply for the support. HMRC said it will contact you by text message or letter in April to confirm your payment.

It's available to those who, on March 2, 2021, received:

Working tax credit payments
both working tax credit and child tax credit payments
Child tax credit payments and are eligible for working tax credit but do not get a payment because their income is too high
If you are eligible, you should receive your payment by April 23, 2021.

I always go by Martin Lewis money saving expert as he knows his stuff. This is from his page.

Re wtc you just have to be eligible or work the 16 /24 hour minimum. If the entire wtc component is wiped out because your earnings are to high you still qualify for the £500.

*ie work not or work.