tax credits question

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jennaxhx
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Posted: Wed Apr 10, 2013 1:44 pm 
Post subject: tax credits question
Wondering if anyone can help. My OH was laid off for 3 months this tax year and as a result his yearly income will likely be a good deal less than what it was last year. Since HMRC calculate your current tax credits award based on the previous years figures, does that mean I've been underpaid? And what will happen when I tell them the actual figure for this past year?
Also, it's likely (as long as he doesbt get laid off again this year) that his income will go back to what it was last year so can they take that into account or will they just take for granted that whatever he earned this year he'll earn next year even if it means we could be overpaid?
Hope this makes sense lol
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RachN3Babies
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Posted: Wed Apr 10, 2013 4:58 pm 
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i think when you tell them his last years earnings it should make your tax credits go up this year? im not entirely sure im sorry. your best option is probably to call them and ask how it works.. did you contact them when he was laid off? xx
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Shellm
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Posted: Wed Apr 10, 2013 6:13 pm 
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As soon as he gets his p60, due this month phone them. They usually ask will the wages for this coming year be any different. If they owe you any money they will just put it straight into your bank. Hope you get some extra Very Happy Very Happy
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jennaxhx
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Posted: Wed Apr 10, 2013 7:41 pm 
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Shellm wrote:
As soon as he gets his p60, due this month phone them. They usually ask will the wages for this coming year be any different. If they owe you any money they will just put it straight into your bank. Hope you get some extra Very Happy Very Happy

Thanks hun Smile I couldn't remember them asking me before if this year will be the same as the following so that's why I was concerned. Don't want them thinking he is earning the same next year and they give us money then decide next year that we owe a chunk of it back x
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jennaxhx
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Posted: Wed Apr 10, 2013 7:42 pm 
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RachN3Babies wrote:
i think when you tell them his last years earnings it should make your tax credits go up this year? im not entirely sure im sorry. your best option is probably to call them and ask how it works.. did you contact them when he was laid off? xx

Thanks, yep I told them he was laid off xx
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