Employees
If you are responsible for at least one child or young person who normally lives with you, you may be eligible for Child Tax Credit.
And even if you don’t have children but earn low wages, you may be eligible for Working Tax Credit.
A Tax Credit isn’t tax. And it isn’t deducted from your tax bill either – in fact you can get it even if you don’t pay tax!
What are Tax Credits?
Tax Credits are payments from the government to help with day to day costs for families and people on low income. You can claim two tax credits, Child Tax Credit and Working Tax Credit.
Child Tax Credit is a payment to help parents and carers of children under 16 or qualifying young people under 20 (in full-time education or approved training, up to and including courses like A levels, Highers and NVQ Level 3). How much you get depends on your income.
Working Tax Credit is a payment to top up the earnings of low paid workers (employed or self-employed), including those who do not have children. It helps to make work pay for low income workers. It can also include amounts to help you with childcare costs.
Who can claim?
You must be aged 16 or over and usually live in the UK. Couples must make a joint claim.
You may get Child Tax Credit if you’re responsible for at least one child under 16 or a qualifying young person.
For Working Tax Credit you have to be aged 16 or over, work 16 hours or more a week and at least one of the following:
•Be responsible for a child or qualifying young person
•Have a disability that puts you at a disadvantage in getting a job
•Be aged 50 or over and be returning to work after a period on a qualifying benefit
If none of these apply you must be aged 25 or over and usually work at least 30 hours a week
•Call our free helpline for advice about tax credits on 0800 013 0313
•Check out the Tax Credit Estimator to see how much you may get.
•Click here to go direct to HM Revenue & Customs website
•Click here to see our factsheets
Employers
Helping employees financially can improve your bottom line
Highlighting the availability of tax credits available to your employees costs you nothing but can have a positive effect on your absenteeism rates and staff turnover. Having extra money coming in can make reliable childcare more affordable and your employees lives easier and less stressful thus enabling them to be more focused at work.
We can provide you with posters to display in your workplace, telling employees how to find out if they are eligible for this extra money.
We can provide leaflets for you to send out with newsletters or payslips.
We can come along to your workplace to hand out leaflets and to advise employees on how to claim tax credits.
•Email lei.lau@workingfamilies.org.uk for more information, to request posters and leaflets or to organise a visit by our adviser
•Click here to download a poster for your noticeboard |
