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BenefitsUnderstanding Tax Credits Tax credits are payments from the government to help with everyday costs. If you're responsible for at least one child or young person who normally lives with you, you may be eligible for Child Tax Credit. If you work, but earn low wages, you may be eligible for Working Tax Credit. What is a tax credit? A tax credit isn't a tax - it's money that you receive regularly. And it isn't deducted from your tax bill either - in fact you can get it even if you don't pay tax.Tax credits are paid into your bank, building society, Post Office or National Savings account that accepts Direct Payment. Child Tax Credit Nine out of ten families with children qualify. How much you get depends on things like:
You don’t have to be a parent either – anyone who’s mainly responsible for a child can claim. If you share responsibility with someone else whom you live with as if you were married or civil partners, you must claim together whether you’re married or civil partners or not.If you share responsibility with someone else who doesn't live with you, and the children or young people also live with them for part of the time, you need to decide between you who has main responsibility. Only the family with main responsibility can claim Child Tax Credit. For more details on Child Tax Credit, including current levels and how to claim, please click here. Working Tax Credit If you’re in work but on low pay, you can apply for Working Tax Credit to top up your earnings. You can claim this whether you’re employed or self-employed and you may get extra if:
For more details on Working Tax Credit, including current levels and how to claim, please click here. How to claim You can:
For more details on Working Tax Credit, including current levels and how to claim, please click here. |
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