posts related to: Tax credits

Child benefit

A family guide to child benefit tax changes.

Child benefit is a universal benefit that can be paid to either parent in a ‘partnership’, whatever their income or savings. It is payable in respect of any child under age 16 or who is over 16 but under 20 and in full-time ‘non-advanced’ (eg not a degree) education at school or college, or starting…

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Childcare Costs – How You Can Save Money

The New Year of 2013 has certainly hit parents with changes to child benefit, childcare costs and tax cuts for working parents. With the government expected to release detailed proposals as a result of the Childcare Commission next week, Child Benefit being cut for higher rate tax payers and childcare costs being at the forefront…

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Tax credit claimants need to renew – or payments may stop

Tax credit claimants are urged to act as soon as they receive a renewal pack from HMRC. More than 3.3 million claimants renewed by the deadline last year, 80 per cent of those who were required to renew their claim. The department is also asking claimants to double-check the accuracy of the information in the…

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The Family Tax Credit

The Working Families’ Tax Credit and the Children’s Tax Credit was replaced by the Working Tax Credit and the Child Tax Credit. We’ve deciphered the small print, so read on to find out how this change affects your benefits and entitlements. The Working Tax Credit is available to people who are in paid work, regardless of whether they are…

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Childcare tax credits: who is eligible?

Who is eligible? If you work at least 16 hours a week and pay for childcare then you may be entitled to additional tax credits to help with the costs. If you are a single parent then you must work at least 16 hours a week, and if you are part of a couple you must both work…

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Family cuddling.

Savings and investments for your child’s future

Child Benefit Child Trust Funds Child Tax Credit Working Tax Credit Childcare Vouchers One thing most parents want to do is save and invest for their child’s future and as parents of new babies have discovered in recent months, the advent of the government’s Child Trust Fund has encouraged them to think about it in…

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The Nanny Tax Credit

Many parents employing nannies should benefit from tax breaks ending years of discrimination in favour of those using nurseries and childminders. This extension to the current Child Tax credit is complex. We take a look at what’s on offer and how you can claim. Who can apply? The Child Tax Credit is being extended to cover…

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Family tax credit problems costing jobs

PLANS to end child poverty by making work pay will have limited success unless problems with the Government’s flagship working families’ tax credit scheme are sorted out, a report from the National Association of Citizens Advice Bureaux (NACAB) warns today. NACAB says that the earnings top-up scheme for low-paid parents could help lift many more families out of…

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