Checking 2012-13 Tax Credit and Benefits Awards.

If you need to check last year’s Tax Credit rates or Benefit’s, for example, you have a Tax Credit Final Award you want to check then you need to use last year’s Lisson Grove Quick Benefits Calculator. You don’t have to search around for the disk go to File on the Menu Bar and choose “Launch 2012/13 version of the QBC” from the Drop Down Menu.  This will mean that you leave the 2013/14 Quick Benefits Calculator.  You will get a warning box telling you that you have left this year’s and are now in last year’s QBC. You are now using QB16 rather than QB17.

You can check the year you are in by looking at the Title Bar and the version number on the main screen will say Version 16.20 (A). This was the last version produced in the tax year 2012-13 so you will have all the various benefits rates which were applicable over that year.

For example you will have the different Minimum Wage rates and any different interest rates. You have to make sure that you put the correct dates into the QBC to reflect your claimant’s circumstances. So, for example, if it a question about an overpayment for the period 1st July to 1st Sept – put 1st

Advertisements

QB19 (2015-16)

QBC19 was released at the end of March. You should have got your copy of the Quick Benefits Calculator by now. If you haven’t got it then speak to your I.T. section as they tend to get it first.  If you still haven’t got it contact Lisson Grove Benefits Ltd. as soon as possible : info@lissongrovebenefits.co.uk

There aren’t any radical changes to the QBC from the previous version. There  are some small changes to screens but most of the changes are to do with the calculations
and updating of the program as Council Tax Reduction become more ‘local’ and Universal Credit rolls out.

Marriage TTA

One of the changes to the QB19 is that the claimant’s income from work screen (and the partner’s income from work screen) now has a button on the (Tax) Allowances part of the screen (top right). The button is to enter details about the new Tax Allowance – the Marriage TTA – that is Marriage Transferable Tax Allowance.

If the MTTA is applies in your client’s case you tick the box on the screen of the person who gets the MTTA. So only tick the box for one member of the couple.  Once you tick the box an entry box appears and you can enter the percentage of the MTTA which has been transferred. In many if not most cases this is likely to 100% but just in case it is less – because the law permits it to be less – you can enter that figure.

It is possible to transfer all or some of the MTTA and the QBC allows you to enter the percentage transferred.

Once you have entered the level the QBC then calculates the income tax for the MTTA claimant by applying the MTTA.

The MTTA scheme only applies to claimants (or partners) who are married or who are in a civil partnership and whose partner or spouse has transferred their personal allowance in whole or part. The scheme does not apply to higher rate tax payers and it is only likely to be of financially beneficial if the other member of the couple has taxable income below their personal allowance so not all claimants or partners will apply for it.

You can right click over the MTTA button on the Income from Work screen to see more information about the scheme.