
Starting a new business? Get 40% off our accountancy services for 3 months! 😀
It is possible to claim Working Tax Credits, Child Tax Credits or both, as long as you fulfil specified criteria. The claim will be based on the number of paid hours you work each week, the number of children and your total household income. There are other factors which can affect a claim, such as age and whether you are returning to work after a period receiving benefits.
A claim form has to be completed in order to apply for Working Tax Credit and Child Tax Credit. You have to contact the Tax Credit Helpline to request a claim pack for tax credits; you can’t download a claim form or claim online. There is certain information that you will need when you phone the helpline, including your National Insurance number. You will be asked for your annual income for the previous tax year, which can be found on the form P60 which is given to you at the year end by your employer. The details of any benefits will be requested, including Jobseeker’s Allowance and Carer’s Allowance. If you have registered childcare, you will be asked for information about the childcare payments. All other income details will be asked for, which will include any interest on savings or rental income.
If you live with another person as a couple, a joint claim will be made and both parties will have responsibility for the accuracy of information provided. If you think that you are entitled to claim tax credits, you should apply as soon as possible to avoid losing money.
Subscribe to our newsletter to get accounting tips like this right to your inbox
This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…
Read MoreWhen you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…
Read MoreHere at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…
Read MoreThe number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?
Please contact our sales team if you’re unsure
It is unlikely you will need this service, unless you are voluntarily registered for VAT.
Are you sure this is correct?
Call us on 020 3355 4047 if you’re not sure.
You only need this service if you want us to complete the bookkeeping on your behalf.
Would you prefer to complete your own bookkeeping?
Call us on 020 3355 4047 if you’re not sure.