What are Tax Credits?
You’ve heard all about HM Revenue & Customs taking money from people - tax credits are when they give money back to people who need it.
Tax credits are the Government’s way of rewarding people for working or for bringing up children.
If you’re 16 or over and you’re responsible for looking after a child, you can claim Child Tax Credit, if your household income is less than £55,220.
You can get it whether you’re still at school or college or not. The amount varies.
You can get Working Tax Credit if you’re 16 or over and working for at least 16 hours a week for a low wage and are disabled or if you’re working for at least 16 hours a week and are responsible for a child.
People without children and who are not disabled can get Working Tax Credit if they are at least 25 years old and working for 30 or more hours a week.
If you want to know more about Tax Credits take a look at the information available online.
Let’s have a look at a case study to see what in the way of Tax Credits Mel might be able to claim.
