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CHILD TAX CREDIT AND WORKING TAX CREDIT
The Child Tax Credit is means tested, and will be paid directly to the main carer. It will apply to 9 out of 10 families with children, and is available to families earning a staggering joint income of up to £58,000. Along with this new Child Tax Credit is a Working Tax Credit which is available to anyone working 16 hours or more if 16 to 24, or 50+, and 30 hours or more if you are 25 to 49, and earn under £15,000 as a couple, or £10,800 as an individual. Now as you would expect from any Government give away, the forms and supporting help notes (47 pages) are very complex and errors could lead to fines. The help notes have also been criticised by experts as not being clear or complete ! There is also a 3-month time limit for claiming and if your claim is not received by 5 July, some credits will be lost for the earlier period. It is therefore imperative for you to act early to get a claim in and reap the rewards. Please contact us for any advice and we can offer a form completion service should you require it. Contact us for our latest newsletter on this subject. |
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