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Personal tax and finance

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Working and child tax credits

Are you claiming tax credits?  Many people are missing out on this tax break and you don’t need children to be able to claim.  If in doubt make a claim.

 

The amount of tax credits depends on things like:

how many children you have living with you

whether you work - and how many hours you work

if you pay for childcare

if you or any child living with you has a disability

if you're aged 50 plus and are coming off benefits

 

The lower your income, the more tax credit you can get.

 

Refer to the link opposite and contact us if you would like us to quote for processing a claim for you or if you are unsure about whether you are eligible.

 

HMRC Tax credits  
       

 

Pre-Owned assets

As indicated with our tax return checklists if you gave away assets (eg property) after March 1986 and have avoided Inheritance tax but now have use of the assets you could face an annual income tax charge based on the rental value.  Note this can apply even if the original gift was cash that was then converted to the asset you now “enjoy”.

 

 

 

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