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Original poster

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

559 replies

JamesMiddletonsMarshmallows · 24/03/2021 12:24

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

OP posts:
Thread gallery
9
lollipoprainbow · 01/04/2021 14:42

Just received text ! Not convinced I'll get it though.

Original poster
JamesMiddletonsMarshmallows · 01/04/2021 14:48

@Smeds it's normal for payments to reduce come April to mitigate for any overpayments - but if you renew and circumstances haven't changed they'll likely go back up again

OP posts:
Mummyemx · 01/04/2021 15:05

My surname is P and just received the text x

Smeds · 01/04/2021 15:25

[quote JamesMiddletonsMarshmallows]@Smeds it's normal for payments to reduce come April to mitigate for any overpayments - but if you renew and circumstances haven't changed they'll likely go back up again[/quote]
That makes sense, thanks. DH has had a pay rise which kicks in this month so payments will change anyway. Just need to find out how much.

MrsSnitchnose · 01/04/2021 15:50

Got my text this morning. Thank you so much to the PP who posted about the savings scheme. I'd never heard of it before. I won't be able to afford £50 a month but even half that will be enough for a decent return. DS has just turned 13 so I have just enough time to make use of it

patrickbatemansbusinesscard · 01/04/2021 16:35

That's my text just came through - I'm C in the alphabet.

patrickbatemansbusinesscard · 01/04/2021 16:37

Forgot to say I'm a single parent household but only receive CTC not the working element. If that's of any help?

myusernamewastakenbyme · 01/04/2021 17:37

Ive still not had the text...i receive both wtc and ctc and am a lone parent so hoping i'll get it.

MrsSnitchnose · 01/04/2021 17:47

@myusernamewastakenbyme You should do, I'm in the same position and got my text earlier today

myusernamewastakenbyme · 01/04/2021 17:48

@MrsSnitchnose thank you...i really hope so...after a year on 80% furlough this £500 would be a godsend.

Bunnybigears · 01/04/2021 17:53

Sorry I'm late to the thread, if you get the text do you get the money? I'm eligible for tc but etc reduced to zero and dknt actually get any tv money as they keep it to repay an overpayment.

gingeristhenewblack43 · 01/04/2021 18:08

@myusernamewastakenbyme I am in a similar situation, lone parent and in receipt of WTC and CTC and got the text at about 5pm today.

I also got the Covid uplift last April of £20 per week. I get my tax credits 4 weekly so it was a noticeable increase and I rang to double check that I wasn't receiving too much as I'd hate to be in a position of having to pay it back.

Hopefully you'll get a text or letter soon.

For those that mentioned the Help to Save scheme, it has been running for about 2 1/2 years now. I signed up 2 years ago and got my first bonus in Feb which was brilliant as some scrote stole parts of my car that cost me £400 to repair. In one hand out the other!

My understanding is that if you sign up to the scheme you can continue to pay in and receive your bonuses even if you no longer need tax credits. But please double check that!

SpideyMom · 01/04/2021 18:22

Does the saving scheme affect your tax credits at all?

Orangesandlemons77 · 01/04/2021 18:40

@SpideyMom

Does the saving scheme affect your tax credits at all?
No
Orangesandlemons77 · 01/04/2021 18:41

[quote gingeristhenewblack43]@myusernamewastakenbyme I am in a similar situation, lone parent and in receipt of WTC and CTC and got the text at about 5pm today.

I also got the Covid uplift last April of £20 per week. I get my tax credits 4 weekly so it was a noticeable increase and I rang to double check that I wasn't receiving too much as I'd hate to be in a position of having to pay it back.

Hopefully you'll get a text or letter soon.

For those that mentioned the Help to Save scheme, it has been running for about 2 1/2 years now. I signed up 2 years ago and got my first bonus in Feb which was brilliant as some scrote stole parts of my car that cost me £400 to repair. In one hand out the other!

My understanding is that if you sign up to the scheme you can continue to pay in and receive your bonuses even if you no longer need tax credits. But please double check that![/quote]
That's correct

patrickbatemansbusinesscard · 01/04/2021 19:06

Thanks for the info on the help to save scheme - have managed to sign up for that.

Very helpful thread Smile

Sarahvill · 01/04/2021 19:16

I just had the text a couple of hours ago ...... now will wait and see !

Beehappy21 · 01/04/2021 19:29

@Reiningitin that's fab!! Thank-you! Certainly something to make the next few months easier! X

MondeoFan · 01/04/2021 21:07

I got the text this afternoon guys 😀

Reiningitin · 01/04/2021 22:13

@Bunnybigears yes if you receive the text you are eligible for the money

StormBaby · 02/04/2021 20:30

@myusernamewastakenbyme I haven’t had a text either yet and I fulfill all the criteria

pheonixrebirth · 02/04/2021 21:01

I've just checked my HMRC App and it says something about a one off payment in the tax credits bit which shows your payments.
I'd definitely recommend the app as well, it makes accessing info really easy!

Tax credit - anyone got a date for the £500 payment yet?
SpideyMom · 03/04/2021 08:50

My next payment is a one off payment too but I hope that's not it because its literally the same weekly amount I've been getting on the same day I'd usually get it, so is not different or no extra to my normal payment.

I thought it wasn't going to show on your app as it doesn't contribute towards your annual award. I thought everything that goes through the app is basically what you are awarded for the year?

GravityFalls · 03/04/2021 08:54

The one-off payments are when something has changed - this could be your claim is being adjusted because it’s the start of the new tax year, which is the most likely this week/month, or because you’ve changed income etc. Sometimes you get two payments in one week just so your account is caught up.

NatashaAlianovaRomanova · 03/04/2021 08:54

The first payment in the new tax year is always slightly different - this has nothing to do with the £500.

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