Very worried over tax credit overpayment

[foolmum]

thanks scotgal68. i know we both r predicting the worse....but what can we do bu offer to paybackxxx dont want to loose my job as wont be able to payxc

[foolmum]

Thanks scotgal I'll keep you updated when I've sorted everything out. Foolmum it's so terrifying I haven't eaten or slept for weeks I don't live the life of Riley I scrape by and the loss of what I was getting could've ended with my daughter and I being homeless which we're faced with just now anyway. I'm not able to interact with people and I'm in the process of being made bankrupt right now life doesn't feel worth living. I hope everything works out for you x

 

how r you....

[dawnied1976]

how r you....

 

Hi there I'm not much better to be honest I'm not sleeping or eating. I read your posts on the other thread and the £3000 fine frightening me even more as my situation Is that for 2011/12 I gave my salary as less than it was so I was negligent but I didn't do it on purpose I had 2 jobs never got a p60 from either so I didn't know how much I'd earned it was a genuine error. I feel like I'm being crushed by all this I really do. How are you? X

[dawnied1976]

Sorry but after reading the stuff from wsid I'm now terrified I haven't had any compliance letters or that but I'm scared that if I bring the fact my salary was wrong they'll give me a criminal record and the childcare element being wrong I'll not be able to go back to uni to do nursing and my whole life'll be bleak my poor daughter Is all I can think of x

[foolmum]

im in bits cant sleep or eat but what can i do im seeing cb on the 5feb so they will be able to help ... we r not alone in this position....just going day to day my docs were good and will write on my behalf...so ill keep u posted.xx contact them i felt better when i did.....

[lilly82]

Hi all and thanks in advance for reading.

 

I sent up a ltd company almost 10 years ago. I was paying myself £600/month and claiming approx £8,500 working tax / child tax credits each year. We now have 3 children aged 13,9 & 4. My wife was in part time employment earning a similar amount to me. We never drew any dividends at all.

 

Then we started making money. The dividends we drew were as follows... 2008 - £2,000, 2009 - £16,000, 2010 - £18,000, 2011 - £20,000, 2012-£25,000. My wife started working for the business 2 years ago and is paid £610/month.

 

I was convinced that we did not have to make HMRC aware of the dividends as the tax etc had been paid on these amounts through the business in the appropriate manner. The business pays corporation tax & VAT and has always paid everything on time.

 

We have always advised HMRC of all the changes in salary for my wife, and also whenever we paid for childcare and also when it was subsequently cancelled. It is just the non-divulging of the dividends that is the problem. We received a letter last week stating that they were investigating as their records showed that we received a dividend payout of £16,666 for yr ending April 2012. TBH, I do not know where that figure has come from as Business year End report shows.

 

Hi

I was wondering how this matter was concluded for you as I myself am in a similar position now myself!! I too am worried sick