Are you familiar with that pressure that grows as January 31st gets closer & closer? Let us take the strain and provide you with peace of mind. We will produce your Self-Assessment Tax Return and computations, outlining your tax liability. If you are employed, dealing with all this by the end of September may mean that some or all of any tax liability can be coded out.
You can apply for two tax credits, Child Tax Credit and Working Tax Credit - payable from April 2003. The general rule is that to qualify for tax credits you must be aged 16 or over and usually live in the United Kingdom. You may also qualify if you do not live in the UK but you are
A citizen of another country in the European Economic Area (EEA) and you work in the United Kingdom, or
A Crown Servant posted overseas, or
A citizen of a country in the European Economic Area (including the UK) living abroad and you receive a UK state pension or contributions-based Jobseeker's Allowance.
Couples must make a joint tax credits application. If you are part of a couple, you cannot decide to apply as a single person.
Child Tax Credit is for people who are responsible for at least one child or qualifying young person. Child Tax Credit is paid direct to the person who is mainly responsible for caring for the child or children. If you are a lone parent you will receive the payment.
Working Tax Credit is for people who are employed or self-employed (either on their own or in a partnership), who
usually work 16 hours or more a week
are paid for that work, and
expect to work for at least 4 weeks
and who are
aged 16 or over and responsible for at least one child, or
aged 16 or over and disabled, or
aged 25 or over and usually work at least 30 hours a week
Working Tax Credit is paid to the person who is working 16 hours or more a week. Couples, if both of you are working 16 hours or more a week, must choose which one of you will receive it. You cannot receive Working Tax Credit if you are not working.
As part of Working Tax Credit you may qualify for help towards the costs of childcare. If you receive the childcare element of Working Tax Credit, this will always be paid direct to the person who is mainly responsible for caring for the child or children, alongside payments of Child Tax Credit.
The amount of tax credits you receive will depend on your annual income. For further information visit https://www.taxcredits.inlandrevenue.gov.uk/Qualify/WhatAreTaxCredits.aspx and find out how much you might get.