Tax credit & income help

[Jelly Baby]

Apologies if this is in the wrong part..rushing and using someone elses pc!

Split from hubby and rung tax credits and they have based it on last years income which means money has gone into my account i am not entitled to. Do i give them the figure before tax or the one after expences etc and if so how do i know what this will be as not sure what i will pay tax wise etc..hope that makes sense but need to get sorted before they really over pay me.
Thanks x

[mrsoliver]

Give them your profits (income less expenses and 10% for wear and tear). You could estimate this as 1/3 of your income, using the 2/3rd disregard rule.

[pinkbutterfly]

They will need to know the figure after you've deducted your expenses but before tax and national insurance deductions.
You can roughly calculate how much you think you'll earn this year but if anything chages you'll have to ring them and let them know so they can adjust the amount accordingly. Hope that helps.

[Jelly Baby]

Thanks ladies. how do i know what my expences will be for this year though? last year was a completely different income so not sure how do do it really.
Thanks x

[berkschick]

I would just work out an average from the books you have so far for this year (April till now). Work out an average for a month and x it by 12.

[youarewhatyoueat]

If you aren't sure then always over estimate the figure you earn so you won't get over paid, then when you fill in the correct amount at the end of the tax year you should receive a lump sum for the money they owe you. I do this every year so have 2 payments in my account at the end of the year.

[Jelly Baby]

Ok thanks..so

I earn from childminding minus my expences etc a week £530
I earn from my other job about £70

so a week combined £600 x 52 weeks = £31,200 a year. I earn more in he holidays but without obviously doing expences this may kind of balance it out. So if i tell them £31k?

Thanks just dont want to be overpaid tbh.

[suzyblue]

You need to take off quite a bit for your expenses.

[Jelly Baby]

Kindertime i know but surely it varies each month so i have no idea what to take off tbh..like someone else said better to be higher than lower i guess.

[suzyblue]

Can you guess based on previous years? My expenses are usually about half of my total income.