Paying back Working Tax Credit/ Child Tax Credit??

tailwindhome

We've been overpaid WTC and/or CTC.

This is due to be paid back. I've no issue with this.

I'd like to paid it back over as long a term as possible or defer repayment for as long as possible.

(it's not an insignificant amount of money)



Has anyone any experience of these repayments? Whats possible in terms of negotiation?

UndercoverElephant

Yup, they want some back off us too. Really ought to ring them, I guess.

From the blurb, you can spread it over 12 months.

Extralight

We were over paid as well. Rather than actually having to give anything back, they adjusted our payments, so we didn't see any money from them for a few months, and are now getting back each month less than they originally said we would to effectively repay what we owe.

Not sure if that makes much sense, sorry if it's not clear. Let's face it, tax credits and the paperwork is complex to say the least, especially when income varies over the tax year due to maternity leave and other factors.

tailwindhome

Extralight wrote:

Rather than actually having to give anything back, they adjusted our payments.

We don't anticpate any future payments

JamesB5446

I owe them some too.

Is it interest free if you spread it over the 12 months?

byke68

[color=#408000]Extralight wrote:

We were over paid as well. Rather than actually having to give anything back, they adjusted our payments, so we didn't see any money from them for a few months, and are now getting back each month less than they originally said we would to effectively repay what we owe.[/color]
Not sure if that makes much sense, sorry if it's not clear. Let's face it, tax credits and the paperwork is complex to say the least, especially when income varies over the tax year due to maternity leave and other factors.

Had same problem last year. I know I'm not the sharpest knife in the block but when the missus gives them all the info they require to workout what we'll get, how can they then claim that we were overpaid a year later?

chilling

I'm paying 1700 back over2 years. Ring them up and negotiate the deal you want they were quite reasonable. Luckily that's the balance from a 15k overpayment that they gave me. It took ages to get them to agree to take most of it back once I realised the error in their calculations.

They should employ people who understand how to calculate tax!

Their calculations seem to run a year behind so if you are lucky enough to get an income increase you then end up owing them money.

richk

I'm paying back an overpayment over 12 months (with no interest charges). Overpayment came from the change in thresholds (so we no longer qualified). There was a number to ring with the 'demand' and a DD was set up in one simple phone call.

redvee

My WTC overpayment is being done over 12 months and there is nothing to stop me claiming it again which would mean the repayment being paid by HMRC and a little bike money left over

Pufftmw

I moved in with my g/friend and I ended paying back her CTC!

The Rookie

byke68 wrote:

Had same problem last year. I know I'm not the sharpest knife in the block but when the missus gives them all the info they require to workout what we'll get, how can they then claim that we were overpaid a year later?

If your misses got it wrong, if circumstances changed mid year etc etc etc....

If it can be paid off in a year by adjusting current payments, then that is the usual first route.

If TWH isn't getting any more payments then it would seem logical they will spread it over a year unless TWH or whoever gave the details appeared to deliberately mislead in which case I've heard of them demaning immediate lump sum payment (fair enough).

greg66_tri_v2.0

TailWindHome wrote:

We've been overpaid WTC and/or CTC.

This is due to be paid back. I've no issue with this.

I'd like to paid it back over as long a term as possible or defer repayment for as long as possible.

(it's not an insignificant amount of money)



Has anyone any experience of these repayments? Whats possible in terms of negotiation?

Pay it back immediately. The state needs this money. This country is in a dire financial position. There's no room for non fare-paying passengers.

We're all in this together, etc...

:twisted:

tailwindhome

Greg66 Tri v2.0 wrote:

TailWindHome wrote:

We've been overpaid WTC and/or CTC.

This is due to be paid back. I've no issue with this.

I'd like to paid it back over as long a term as possible or defer repayment for as long as possible.

(it's not an insignificant amount of money)



Has anyone any experience of these repayments? Whats possible in terms of negotiation?

Pay it back immediately. The state needs this money. This country is in a dire financial position. There's no room for non fare-paying passengers.

We're all in this together, etc...

:twisted:

If I pay it back immediately I won't be able to afford to go to Starbucks anymore


Cheers for the interest free loan.

---

I'm right in thinking this doesn't need to be dealt with until the tax year end in April?

I finish work at Christmas and won't be earning from Jan to Apr - I should be due a rebate - one may offset the t'other.

AllezGaz

byke68 wrote:

[color=#408000]Extralight wrote:

We were over paid as well. Rather than actually having to give anything back, they adjusted our payments, so we didn't see any money from them for a few months, and are now getting back each month less than they originally said we would to effectively repay what we owe.[/color]
Not sure if that makes much sense, sorry if it's not clear. Let's face it, tax credits and the paperwork is complex to say the least, especially when income varies over the tax year due to maternity leave and other factors.

Had same problem last year. I know I'm not the sharpest knife in the block but when the missus gives them all the info they require to workout what we'll get, how can they then claim that we were overpaid a year later?

Exactly the same happened to us!!

greg66_tri_v2.0

TailWindHome wrote:

I won't be able to afford to go to Starbucks anymore

Right there, you have (I fear) perfectly summarised my likely life as a pensioner.

rjsterry

Greg66 Tri v2.0 wrote:

TailWindHome wrote:

We've been overpaid WTC and/or CTC.

This is due to be paid back. I've no issue with this.

I'd like to paid it back over as long a term as possible or defer repayment for as long as possible.

(it's not an insignificant amount of money)



Has anyone any experience of these repayments? Whats possible in terms of negotiation?

Pay it back immediately. The state needs this money. This country is in a dire financial position. There's no room for non fare-paying passengers.

We're all in this together, etc...

:twisted:

I trust you've forgone any child benefit. :P

Fat-Boy-Roubaix

Still chasing me from 2004... I paid back my calculation which was 45% of what they wanted. get the VERY occasional phone call maybe 18 months since the last one.