Year End

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  • #19819
    Anonymous
    Guest

    The handbook says ….’The reconciliation exercise will take place after the year-end (April) and new award notices will be issued from then until August.’

    Are we able to keep the old award of Tax Credits on our claims until we hear about the new award? Each individual award letter states the amount of the award until April 04, is it safe to assume the IR will continue paying at the old rate?

    #1097
    fiona_copland
    Participant

    section 1, para 145 states that ‘any person in receipt of an award at the end of the tax year should continue to get payments from the beginning of the next tax year. These are initital payments of their new award and will usually be made at the same rate as the previous award. Once they return their end-of-year notice, the subsequent payments can be adjusted to take account of any new information’.

    From June to August 2004, we need to confirm with the claimants revised rates of TC’s following the annual review.

    Presumeably, it’s a case of keeping in the same award over to the next financial year, and sometime between June and August we will be notified of the new award!

    Fiona.

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