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How long is over50 working tax over50 credit paid for Tax credits are awarded for a complete tax year. A tax year runs from the over50 beginning of April to the end of the following March. If you claim after April, your award will run from the date you claim to the end of the following March. The amount you get is usually set for a year. If your circumstances change during the period of your award you should tell HMRC as soon as possible. This is important because otherwise you may not be paid all the tax credit you are entitled to (an underpayment), or you may be paid too much and have to pay it back to HMRC (an overpayment). Some changes to your circumstances mean that your award ends and you have to claim again. Other changes mean that your award continues but it will be recalculated, and some will not affect your current award at all.
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