Just received a award notice dated 19 May 2004 and its TC602 (C)
Child Tax Credit £2175.40
Working Tax Credit £270.35
On page 3 of the notice it gives a breakdown and I have never seen before. Detailed below is page 3.
Child Tax Credit £2175.40
Already paid for period £275.60
Amount to be paid £1647.80
Payments
On 22.05.04 £35.87
Your payments will then change to £30.81 every week until further notice.
Working Tax Credit £270.35
Amount you owe us that will collected from future years £524.70
Amount we have already paid for this period £452.51
Amount you owe us from previous years £272.95
Amount you have paid that we have set against
overpayments in other award periods £12.26
Amount to be paid as shown below £252.00
Amount you have to pay back £194.67
Our records show that you have received too much tax credit for the years 2004 – 2005. We will collect this from you by reducing your tax credit payments until the amount overpaid has been paid back to us.
Payment by employer
From 17/05/04/ will include tax credit with your pay at a rate of £5.25 a day.
After 05.06.04 the daily rate will then change to £5.57
After 22.0604 the daily rate will then change to £10.31
After 23.06.04 the daily rate will then change to £9.45
I have not seen this before on a tax credit notice, does anyone know how you work this out? Thanks
Nick :15:
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