REPAYMENT OF TAX CREDITS??

[goldiilocks]

Dh was due to have earnt £21000 for the year 04-05, but actually took home £27000! Only just remembered i have to send the declaration back ( which i have now done!) Obviously we have been overpaid, just wondering if anyone has experience on how it gets repaid? Dh wages for this year should be £24000, so hopefully we will be entitled to something!
Bit worried how we will cope financially now as we were recieving £254 per month and if it goes down to nothing..we are gonna struggle!
Btw we got 3 kiddies

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Im a sahm , supposed to be going back to college in sept , dunno if ill be able to afford it!
We will be entitled to a little ctc, do you reckon they'd take it all and leave us with nowt? Its not fair!

Did he get all the extra in the last months wages? £6000 is a big difference.

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We got £ 550 a month last year, buy earnt £4000 more than we declared.

They have lowered the payment noe to £420, and we owe them £1200 that will be spread out over this tax year.

We got £ 550 a month last year, buy earnt £4000 more than we declared.

They have lowered the payment noe to £420, and we owe them £1200 that will be spread out over this tax year.

We have had this but only with the child tax credits, due to a bonus paid as his company was bought out and its share scheme dismantled - hence the bonus.
So our renewal came in put in the new amount for the last year and in order to prevent us from financial hardship (their words not mine) they are decently allowing us .81p every 4 weeks
Bless
I think there is scope to appeal if it causes you extreme hardship though
good luck

Thanks everyone!

saint george, no he didnt take £6000 in last wages ( i wish,lol!!) Its just a combination of bonus each money, which isnt guaranteed etc.
Its just frustrating how long it takes to hear back from them.you just wanna know where you stand

Wouldn't it have been easier to notify the IR when you got the extra rather than wait until year end and then worry that your credits will go down?

DH earned £237 (take home) extra last year. I rang them as soon as we got his P60, confirmed the figures and knew within 3 days that credits would go down by £19.50 per month this year. You had better prepare for a massive drop with a £6000 difference.

We went over by about £2800 & went from £28 pw to £10pw. (We have 4 kids- 1 disabled- & 2 incomes). Obviously we have already had the year's entitlement, so we will get nothing for the rest of the year and still owe £100 out of next years.

My DH gets paid weekly & gets a different amount each week, depending what nights he works, so it makes it very hard to estimate.

You should have told them as soon as you got his P60, because you'll owe for this year as well as last.

I know we should have. We have just had major problems that took over,leaving me not knowing what day it is,and i forgot all about it.regretting it now , but thats life, and i got to deal with it! Hopefully i'll hear from them soon. Does anyone know how long it takes them to get back to you after returning the declaration???

I did my declaration over the phone, received confirmation of new figures 3 days later. Think it might take quite awhile longer if you do declaration by post though - probably sit in an in-tray somewhere for ages.

I done mine online on 30th July, havent heard anything as yet!

I have CAT you with some figs. They won't be exact but should give you some idea of how much you will owe for last year & get this year.

Tallulah not recieved anythingyet hun xx

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Just to let you know i rang the tax credits helpline for more info. The guy has told me i have been overpaid, and that my payments will be reduced from the £253 p/m i was getting to £34p/m!
Dont know the ins and outs of repayment yet as i have to wait for the claim award letter!

Call the CAb or WFTC if this is going to make it hard for you to survive, they have procedures in place to help you but you have to ask.