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Backdated Tax credits – treatment of

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  • June 26, 2003 at 12:38 pm #19784
    Anonymous
    Guest

    It would appear from the guidance that awards of tax credits which are paid as a lump sum are taken into account as capital !!! and arrears due to a change in circs are disregarded for 52 weeks !!! – I see what i am reading but surely it would be fairer to disregard the backdated arrears due to late calculation as well.

    In the majority of cases it doesnt matter as the client base may not have any other capital – but it seem very unfair that they have to possibly pay something whilst other had their overpayment written off as DWP error !!!:15:

    July 7, 2003 at 8:50 am #1028
    Derrick
    Participant

    Yesterday’s Financial Mail stated that arrears of Tax credit could be paid out weekly, with the normal award instead of as a lump sum payment.

    P.S. today is the last day to make a claim which can be paid from 6/4/03.

    Apparently 1,000,000 families have not yet claimed. Watch out for panic from IR/DWP

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