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Arena Magazine 2005 Issue 4 |
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Help with Tax Credits
Members who receive Tax Credits have been urged not to panic as news of overpayments have hit the headlines.
Many thousands of members have received a welcome boost to their household income by claiming Tax Credits but the prospect of having to pay money back can be very upsetting and can cause real hardship.
"Anyone on low pay, not already claiming one or more of the working tax credits, should look very closely at applying," said General Secretary John Hannett.
The Government's Revenue & Customs has made an overpayment in one in three cases, says the Citizens Advice Bureau report. While the Government has admitted that it overpaid more than £1.9 billion out of the total tax credit bill of £13.5 billion last year.
Overpayments of less than £300 are unlikely to be pursued by the Revenue. However an amount above this could see claimants asked to repay the figure through their tax code or see a reduction in future payments until the overpayment is recovered.
Where the revenue made the mistake or where you believed your award was correct these overpayments will not be pursued. The Government's tax credit helpline number is 0845 300 3900 or visit: www.inlandrevenue.gov.uk/taxcredits.
The union has a comprehensive package of guidance leaflets on the Tax Credit system including a Tax Credit calculator. These are available from your local Usdaw office and can also be downloaded from the Tax Credits section at our online Resource Library.
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