Covid 19 Tax credit increase

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Oya

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Post by Oya » Sat Apr 25, 2020 2:52 pm
Hi everyone, It’s been long time since I wrote here. I have just finished my 3rd year and complete my annual review and got my new monthly payment figure.
Everything gone very smoothly over the past 3 years with stepchange and they are really looking after me.
I have just received an increase on my tax credit due to cover 19 pandemic I believe it will be on until April 2021. It’s £20 extra each week to support us. My housing benefit disregard this increase and I was wondering how this extra amount would effect my Iva. My annual report says I should let them know if my wages increase £565 as it is £513 at the moment but does not mention anything else. I am sure stepchange is aware this tax credit adjustment as it is for everybody so should I wait to hear from the to request information or should I let them know?
Thank you and keep safe :)

kallis3

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Post by kallis3 » Sat Apr 25, 2020 3:22 pm
I would give them a call on Monday just to be on the safe side. I doubt it will make a lot of difference but at least you will have told them.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Oya

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Post by Oya » Sat Apr 25, 2020 3:26 pm
Sat Apr 25, 2020 3:22 pmkallis3 wrote:
I would give them a call on Monday just to be on the safe side. I doubt it will make a lot of difference but at least you will have told them.
I am waiting my new payslip as I usually have a pay rise ever April. I think I will wait until Thursday to see if any increase and give them a quick call. Thank you 🙏

Foggy

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Post by Foggy » Sat Apr 25, 2020 5:28 pm
Stepchange have been pretty fair and on the ball, even before the recent changes. As Kallis says, I would mention it to them, just in case.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Oya

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Post by Oya » Sat Apr 25, 2020 7:01 pm
Sat Apr 25, 2020 5:28 pmFoggy wrote:
Stepchange have been pretty fair and on the ball, even before the recent changes. As Kallis says, I would mention it to them, just in case.
I guess I will drop an email and check. They would have known anyway so I wouldn’t like to look like I am hiding income.
Housing benefit consider that as additional earning disregard so it did not effect my housing.
Hopefully stepchange will let me keep it as well 👍🏼
Thank you Foggy, it’s nice to see you again.
Keep safe..

Oya

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Post by Oya » Mon Apr 27, 2020 12:42 pm
Hello everyone
I have an update about my question.
I have spoken to Stepchange and they said I can keep it as they don't consider tax credit as additional earning.
At least I have let them know.

Foggy

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Post by Foggy » Mon Apr 27, 2020 1:40 pm
That's good news. The extra will be welcome at the moment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Oya

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Post by Oya » Mon Apr 27, 2020 2:19 pm
Mon Apr 27, 2020 1:40 pmFoggy wrote:
That's good news. The extra will be welcome at the moment.
Definitely, I wouldn’t say no to £20 extra per week. I just updated so anyone wondering what to do this is the answer ☺️

kallis3

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Post by kallis3 » Mon Apr 27, 2020 6:37 pm
Good news.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Oya

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Joined: Fri Feb 03, 2017 8:35 am

Post by Oya » Tue Apr 28, 2020 1:28 am
Mon Apr 27, 2020 6:37 pmkallis3 wrote:
Good news.
👍🏼
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