Why tax credit payments can change

If you are claiming tax credits make sure that you keep an eye on changes that may affect the amount you receive.

Your payments can go up if:

  • your income goes down by more than £2,500
  • your benefits stop or go down
  • you start getting personal independence payment (PIP), Disability Living Allowance (DLA) or other disability benefits for yourself or a child
  • you have a child
  • your childcare costs go up

You should report these changes within 1 month to make sure you get everything you’re entitled to. Payments can’t usually be backdated any further than this.

Your payments can go down or stop if:

  • your income goes up by more than £2,500 – report this straight away to reduce the amount you’re overpaid
  • you haven’t renewed your claim
  • your award notice shows you’ve been overpaid
  • you stop getting PIP, DLA or other disability benefits for yourself or a child
  • your child is now 16, 18 or 19 and you haven’t told the Tax Credit Office they’re in approved education or training
  • your childcare costs go down
  • you or your partner start claiming Universal Credit

Share:

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Accounting in Sheffield and Doncaster Certificates

Recently Added News

Why go digital?

There is a major advantage to recording business transactions digitally; once the basic data has been entered it can be interrogated and represented in endless

Read More »

Related News

The transition period has ended

From the beginning of this month the Brexit transition period has ended. Negotiations to secure a trade agreement between the UK and the EU from

The end is nigh

In just three short months the present tax year – 2020-21 – will end midnight, 5th April 2021. The UK’s tax code is predominantly time

Quick Links

Online References...
Client Testimonials
Meet the Team

Sheffield Office:
2 President Buildings,
Savile Street East,
Sheffield ,
South Yorkshire,
S4 7UQ

Telephone:
0114 272 0306
Fax:
0114 272 6158
email:
sheffield@roystonparkin.co.uk

Opening Hours:

Mon-Wed: 8.30am – 5pm
Thursday: 8.30am – 7pm
Friday: 8.30am – 2pm

Doncaster Office:
3 Railway Court,
Ten Pound Walk,
Doncaster,
South Yorkshire,
DN4 5FB

Telephone:
01302 320444 / 304440
Fax:
01302 342604
email:
doncaster@roystonparkin.co.uk

Opening Hours:

Mon-Thurs: 9am – 5pm
Friday: 9am – 4.30pm