Posted: Thu Jun 02, 2011 11:23 am
Post subject: can anyone help?
hey new here but was wondering if anyone knows anything about tax credits?
basicly did the renewal today and it turns out we have earned £10013 more thn last year.i know you can earn up to 10000 more and u wont have to pay back but we are over £13 and im seriosly worried we will have to pay loads back.we did declare in april 10 that we would be earning more this year we basicly earned an extra 400 on top of what i said we would in the year im so worried and not sure what to do any replys thankyu already.
Posted: Fri Jun 03, 2011 9:06 pm
I think the credits are effectively a year behind on their calcs. Last year mine was based on maternity pay from year before - so was earning full amount and getting credits on top! this year I have declared last year's earnings, so probably not gonna get anything
but basically am pretty sure you are fine hun. Will mean you get less or none this year, but shouldn't be a payback