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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 14869
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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Are you able to answer questions on working / child tax

Customer Question

Hi ..are you able to answer questions on working / child tax credits. I have quite a long question but I'm really struggling regards ***** ***** should talk to . I really don't want to speak to the tax office just yet.
Assistant: How old was the child or children during the tax year in question?
Customer: There are 2 children now 14 and 8
Assistant: Anything else you want the Accountant to know before I connect you?
Customer: Oh definitely. it's quite complicated ..
Submitted: 1 month ago.
Category: Tax
Customer: replied 1 month ago.
I am UK based so the question relates to English Tax credits . Is that going to be ok
Expert:  bigduckontax replied 1 month ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question. I am based in the UK.

 

What is your problem, please?

Customer: replied 1 month ago.
Hi.
I have just been made aware that I maybe able to claim my state pension. I honestly thought that because I hadn't worked full time from 1976 to about 1994 due to the fact that ,after my divorce in 1976 ,I received full custody of two daughters, aged 18 months and 5 years and stayed home as a single dad.
Recently I was told that I should be able to claim my pension...I am now 68... The only problem I have is that even though I'm now retired ...and remarried...with two young children...my wife       ( 45 ),who works full time self employed ..has received over £730 pm ( in total . ,in both working tax and child tax credits since I should have been claiming my pension..I was 65 in December 2015.
I have been told I would be able to claim about £125.0 pw in State Pension...owing to the fact I was credited because I got Family Allowance ( child benefit ) during my time with the girls.
I'm now extremely worried that the Tax credit dept will want their money back ...and that I could be in serious trouble .
Could you advice please. I have no idea who else to talk to ....certainly not the tax credit office just yet.
Thank you for your time....best regards, Richard , PS: My wife's average earnings, ie,profits ,have been around £9350.0 We have no other income.
Customer: replied 1 month ago.
I do not wish to register a call as I'm out nearly all day
Expert:  bigduckontax replied 1 month ago.

I am sorry, but this is not my specialised area, I must opt out.

Expert:  Sam replied 1 month ago.

Hi

 

You do not have to claim your state pension as from the state retirement age you have the opportunity to defer payment until you wish to claim it - which as you are still a live tax credit claimant you may wish to do to make the most of your entitlements however where as normally a deferral would see you building up a higher payment position when finally claimed, as you are a tax credit claimant this would not lead to a bigger pension

 

Link here that advises further on this matter. https://www.gov.uk/deferring-state-pension/extra-state-pension-and-lump-sum-payments

 

If however you choose to claim this then the state pension date will be backdated from when it was due and will lead to you owing back tax credits. So I advise to defer but please seek further financial advise before doing so

 

Thanks

 

Sam