Today we updated the Turn2us Benefits Calculator to include a small extra step which makes it even easier to input your income.
Explaining the update, Gillian Clyde-Smith, Turn2us Head of Digital, said: “When calculating entitlement to means-tested benefits such as Jobseeker's Allowance, we need to ask about the income that people are receiving this tax year. However, Tax Credits entitlements are calculated based on last year's income. To make that distinction clearer, we've split the former 'Income' page into two pages: 'Income for Benefits' and 'Income for Tax Credits'.
“Because HM Revenue and Customs (HMRC) awards Tax Credits based on a person’s income from last year, if they have had either a big increase or decrease in income this year (compared to last year), this could lead to either an overpayment or an underpayment in Tax Credits. The update we’ve made to the calculator will enable Tax Credit entitlements to be calculated based on income this year if there has been a significant change to income from the previous year. In this case, a Final Tax Credit Award estimate will be provided by the calculator and it will highlight whether an overpayment or underpayment is likely - and therefore HMRC should be contacted for a reassessment.”
Use the Turn2us Benefits Calculator
Find out more about Tax Credits Overpayments.
If you are struggling financially, you can also use our Grants Search to see if you are eligible for help from a charitable fund, based on your personal circumstances and needs.
The Your Situation section on our website contains information resources on benefits and grants and a Find an Adviser tool to help you find face-to-face advice in your local area.