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What are Tax Credits?
Tax Credits are funds paid out by the government. The two most common types of Tax Credit available are Working Tax Credits for those on a low income, and Child Tax Credits for those who have at least one child or young person in their care.
If you’re married or living with a partner you’ll need to make a joint claim for tax credits. You can only make a single claim if you don’t have a partner.
For those making a joint claim; if claiming child tax then you would need to decide who is the main career and that person would receive the money, for working tax credits, again you must decide who will receive the money.
Your personal circumstances as well as your income will determine how much tax credit you are entitled to. Your income is based on what you earned before the end of the tax year April 5th 2009.
If you’re making a new claim for tax credits your payments will usually run from the date of your claim to the end of the tax year. For example, if you make a claim on 10 November 2009, your payments will be worked out from that date until 5 April 2010.