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What is Working Tax Credit?

Explanation and Payment Dates for Working Tax Credit




As the name of this benefit suggests, Working Tax Credit can only be claimed if you are in work, or employment. Working is classed as being employed, self employed or a combination of the two For instance, you might be working for an employer as a part time worker, and doing a bit of self employed work in your spare time.

Basically, Working Tax Credit ii available only to those who are low paid, or have a small income, or living in a low income household.

If you are in an area where Universal Credit is operating as Benefit system, you will not be able to claim Working Tax Credit. (You cannot claim both at the same time.)

What matters, is that you are employed and classed as low paid or with low income total. You must also be working a certain number of hours each week.

There are three basic age qualifying groups that have different criteria as to how much you earn.

Age Related

The main criteria taken into account, is that of your age group. There are different sections of Working Tax Credits for the age groups. There are also other circumstances outlined below.



Other Circumstances for Claiming Working Tax Credit

*** Exceptions for Couples having at least one child. If one of these conditions are met, it is possible to claim if you work  less than 24 hours per week between you….

 *** If you are disabled and are over 60  and work at least 16 hours per week *** If your partner is incapacitated – receiving certain disabled or ill-health benefits, or is entitled to Carers Allowance, or is either in hospital or prison AND you work at least 16 hours per week!

Employed; Self Employed; and Working Tax Credit

Employment or working means that you are either working for another person OR that you are legally Self Employed for tax purposes – making  or aiming for a profit  - and your self employment must be commercial, organized and regular with all the normal aspects of proper self employment in place - proper insurance, tax records etc.

Working Tax Credits Payment Dates for 2017-2018

Due date : Payment date - Earlier for most Bank Holidays

 




March 9th 2017
***Child Tax Credit - From April this year the ‘family element’ of £545 per year will be abolished.***

March 8th 2017
**MPs are calling for a halt to the accelerating roll-out of Universal Credit as the ongoing problems are causing undue and unnecessary hardship**


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