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HOW MUCH IN TAX CREDITS

7 replies

horseshoe · 18/03/2005 12:19

I'm really starting to worry now........

My salary has gone up considerably in the last year...only a recent change....So I was looking on the IR website to see if I would be entitled to any Tax Credits.

The amount came up as nothing...I then typed in my old earnings and again the amount came up minimal.....

Now I'm thinking has the site broken or have I been overpaid and going to be made to pay it all back???? Or has the IR reduced the entitlements???

Basically I was getting £45 every four weeks but now it says I was only entitled to £25.

Not a great deal but should I be made to pay it back it's gonna work out at £260.

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MrsDoolittle · 18/03/2005 12:21

Inland Revenue have just informed me I am going to get another 50p a week in child benefit!
Whoopeee!

Still, it's better than a poke in the eye with a sharp stick!

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MrsDoolittle · 18/03/2005 12:22

I'm sorry horseshoe for hijaking your thread!
I don't know to be honest

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anchovies · 18/03/2005 12:24

I had the same problem but it turns out it is only calculating to the end of this tax year (ie April) so no wonder we are getting virtually nothing!

Have you rang them yet? If you ring they will tell you how much you'll get. Give them an estimate of what your P60 for this tax year will say though, I made the mistake of telling them my new salary which meant they sent me the form saying I owed them when really the salary increase was only for the last 2 months.

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anchovies · 18/03/2005 12:25

They said to ring again in April with the new salary so it will be applied for the next tax year.

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Snugs · 18/03/2005 12:42

horseshoe - when you say substantial increase, do you mean over £2000 per year? Anything under that figure and they should disregard and still work on the previous years income.

There are only approximately 2 weeks left in this tax year. £25 over 2 weeks is £12.50 per week, you were getting £11.50 per week. With the increase in benefits they have promised in the budget, it sounds to me as if you are going to carry on getting approximately the same amount.

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horseshoe · 18/03/2005 13:13

Thank goodness all....

I was so worried..My increase has been nearly £7000 and about £2000 on DP's so know I'm going to get very little...

Still didn't really fancy using my new increased cash to pay the IR back with

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MamaMaiasaura · 18/03/2005 14:22

I just re-calculated what mine would be and it has given me a fig which is quite high. Is it for a month? of for 2 weeks?