Tax Credits, which include Working Tax Credit and Child Tax Credit, are benefits paid to low income earners and low income earners with children. You may be able to claim one or both of them depending on your circumstances.
Gov.uk has an online Tax Credits calculator to help people find how much they get could in tax credits. Tax Credits can be calculated for each tax year which runs between 6th April and the 5th April.
To find out if you qualify for Tax Credits, complete the online claim form on the Tax Credits calculator.
Even after cuts to benefits, Tax Credits can be £1,000s every year.
Tax Credits have to be renewed every year. If you don't renew, future Tax Credit payments could stop.
The Tax Credits you're eligible for will be affected by your change of circumstances over the tax year. There is a Tax Credits Helpline available to help you report changes in circumstances. Failure to update your change of circumstances might result in overpayments which you will have to repay.
Tax Credit Helpline Phone Number: 0345 300 3900 (textphone 0345 300 3909).
Child Tax Credit
Are you responsible for any children under the age of 16? You could be eligible for Child Tax Credit.
You may also qualify for Child Tax Credit if you have children aged 16 to 19 in full-time education (sixth form or further education college).
April 2017: Changes to Child Tax Credit
From April 2017, if you're making a new Child Tax Credit claim, you'll only be able to apply for support for your first two children. (Unless you have more than two children due to a multibirth).
You'll also no longer be able to claim the family element of the support.
You’ll still be able to claim the disabled child premium for any of your children who are eligible.
This change only affects new claimants. If you're already claiming Child Tax Credits and have more than two children, you will be unaffected by the change.
Working Tax Credit
Working Tax Credit is a work-based benefit and is calculated based on how much you earn and the hours you work.
Whether you're an employee or self-employed won't affect your application for Working Tax Credit.
You can claim both Working Tax Credit and Child Tax Credit. If yo have children, you may be entitled to more Working Tax Credit.