Working Tax Credits & P60

[JoMomma]

Hi everyone,

 

I currently work part-time (20 house per week) for Asda. Because I am in receive DLA, including the highest rate of care component, it entitles me to working tax credits. I received an award notice from Working Tax Credits in February which was based on my annual income from the tax year 6 April 2013 - 5 April 2014.

My income for that year was £8329. I have earned significantly less this year. The payslip I recieved on the 3rd of this month shows I have earned £6896.30 so far this year. Is the figure shown on my payslip the same figure that will be shown on my P60? I have explained my situation to the tax credit helpline and they've given a new estimated award notice, but that will remain an estimation until I find out exactly what I have earned for the year.

 

What do I do: wait for P60? Tell them the figure my payslip shows? Or does Asda tell them?

 

Also, my new award notice says that if my income has gone down they will check my whole award and pay me any money if they owe it. In the section where they add up the tax credit elements, they have reducted £782.69 due to my 2013-2014 income, will they pay me back a figure that large or will it be much smaller? ANY money is a bonus, I'm just curious .

[blondebubbles]

You can't give your actual 2014/2015 income until you reveive your renewal from tax credits. Renewals are issued between April and June.

 

When you get the form it will tell you if you need to provide the figure yourself or if they have it from your employer.

 

You should receive your P60 by the end of May. This should be the same as what's on your final payslip but always best to double check.

 

As your income hasn't reduced by £2500 or more then it's unlikely you will have been underpaid for 2014/15 but you will likely see an increase in your 2015/16 payments.

[JoMomma]

Hi,

 

Thanks for taking the time to read my question and reply . I haven't had to renew myself since I started Asda, the Tax Credit office sends me an award notice but no renewal pack. Maybe this time will be different given that my income has gone down.

[blondebubbles]

Hi,

 

Thanks for taking the time to read my question and reply . I haven't had to renew myself since I started Asda, the Tax Credit office sends me an award notice but no renewal pack. Maybe this time will be different given that my income has gone down.

 

When did you make your tax credits claim?

[JoMomma]

I'll try to keep this brief, but I think my tax credits started in 2011/2012 when I worked in a petrol station. I started in Asda in June 2012 and in December of that year I was cut off from DLA and subsequently Working Tax Credits. I went to a tribunal for DLA in August 2013 and won, so iv had tax credits again since August or September 2013.

[JoMomma]

I meant to say 2013 was the last time I made a claim sorry.

[blondebubbles]

You should definetly had a renewal last year then. Everyone who claims is sent on every year.

[JoMomma]

I definitely never got one last year. I'm worried now

[blondebubbles]

So how did you tell them what you had earned for the 2013/14 tax year?

[JoMomma]

They sent me an award notice that had my annual earning on it and broke down the different payment components. The statement included a green form that was a checklist for if there was any changes to contact them immediately. The earnings they had on the award notice was correct, so I never contacted them.

[blondebubbles]

Are you sure that wasn't the renewal notice rather than an awards notice?

[JoMomma]

Maybe it was and I've got myself all confused - which happens a lot :-$.

[sirbob10]

Hi

 

I got the same last year. No renewal notice just an award and a note to say if anything was incorrect just contact them. Now they can get your P60 figure without you telling them so unless you have anything to report you don't have to contact them.

[JoMomma]

Thank you sirbob10 . I started to think I was imagining not getting a renewal notice. Will they send me out another award notice seeing as the other one is a provisional one?

[sirbob10]

Hi

 

Yes you'll get a new award after they have finialised your award for 2014/2015

[blondebubbles]

Hi

 

I got the same last year. No renewal notice just an award and a note to say if anything was incorrect just contact them. Now they can get your P60 figure without you telling them so unless you have anything to report you don't have to contact them.

 

You still get a renewal, it's just a case of not needing to reply if the income is correct and provided by the employer. Many people last year found that the income was incorrect so still had to report their income. It was the first year of using RTI data. This is not the same as an awards notice.