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Senior Partner
Senior Partner, Solicitor
Category: Law
Satisfied Customers: 13326
Experience:  Solicitor with more than 30 years experience
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Tax Credits problem with dividends

Resolved Question:

I am in a terrible state, I have had a letter from HMRC saying that they are reviewing my tax credits as the income they have does not match with the income I gave. When I renewed, I have not been giving my husbands dividends ! I'm horrified. When we checked he figures my husband said well they are right what are they sending us a letter but I said I didn't know about dividends. When I call to renew I give hem the figures off our P60's as requested and then they asked me if we get rental income or company car benefit, which we don't and I'm always going over things with them to make sure it's clear and this type of problem never occurs. It's a stupid mistake on my part and now I am frightened to death of what's going to happen. What ever we have had that we shouldn't have had I am willing to pay back in order to correct this. The letter says if I agree with the figures, I need not contact them and they will adjust accordingly. It's a really stupid mistake on my part, when I renewed I asked what information they required and they said the figures from both your P60's. However I didn't realised my husband received dividends and there fore I did not know to mention them. It's not my husbands fault as he thought I was declaring them, sheer lack of communication between us. They haven't asked me to provide any information and they said on the letter that I need not contact them if we agree with the figures stated which on further discussion with my husband we do. I am having all kinds of thoughts of prison and not seeing my children and being named and shamed. I'm at my wits end
Submitted: 3 years ago.
Category: Law
Expert:  Senior Partner replied 3 years ago.
I do not think you have to be concerned. they constantly adjust tax credits and will simply claw back any overpayment. You have no need to be concerned. As long as the figures are corrected and agreed it is not an issue.

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