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Tax Credits

Tax credits are provided by the state to support those with children or those who are in work but with a low income. There are two types of tax credits, which are child tax credits, and working tax credits.

 

What are Child Tax Credits?

Child Tax Credits are there to support those with children, whether or not they are in work.

You could be eligible for Child Tax Credit for each of your children if they are either under the age of 16 or under the age of 20 if in approved education or training. Please note that from April 2017 Child Tax Credits claims shall be limited to two children, unless the child is born before April 17.

 

What are Working Tax Credits?

Working Tax Credits are for those who work on a low income, whether they have children or not.

To be eligible for Working Tax Credits you have to be either:

Exeter Accountant Aged over 25, with or without children
Accountant Exeter Aged between 16 to 24 with a child or a qualifying disability

To qualify for Working Tax Credits you must also:

Exeter Accountant Work a minimum amount of hours per week
Accountants Exeter Be getting paid for the work you do
Exeter Accountants Have an income below a specified level set out by the government

 

Get in touch

If you wish to discuss your finances in detail then get in touch with us today.

 

 
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