Working Tax Credit
Posted on 20th April 2017 at 15:08
The New Tax Year
The basic amount of Working Tax Credit (WTC) for 2017-18 remains at £1,960 a year. The Working Tax Credit assists taxpayers on low incomes, by providing top-up payments. Payments can vary per individual depending on their circumstances and income, and also includes those who do not have children. There are extra amounts available for qualifying childcare expenses and working households in which someone has a disability.
To be able to claim the working tax credit, a claimant must work a certain number of hours per week. Single individuals who are responsible for children can claim the working tax credit if they work at least 16 hours per week. Claims may also be made for those without children, who are aged over 25 and work at least 30 hours per week. For couples, one member must work at least 16 hours per week, and together a total being 24 hours.
Backdated claims for Working Tax Credit normally are only backdated for a maximum of one month. Exceptions can be made for claimants with refugee status and individuals who qualify for disability benefits or certain sickness.
As we are now into the new tax year, HMRC has updated their Working Tax Credit guidance.
Tagged as: tax credit
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