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Tax Credits are changing in April - here are the new annual payment rates and thresholds

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dailyrecord.co.uk

HM Revenue and Customs (HMRC) and will be changing in April.There are two types of Tax Credits – Child Tax Credit and Working Tax Credit.

You can claim one or both, depending on your household circumstances.Working Tax Credit is paid to people who are in work and on a low income – it does not matter whether you are an employee or self-employed, and you do not need to have children to get the payment.Child Tax Credit is paid to people who have children and is paid in addition to Child Benefit - you do not have to be working to receive it.The latest figures from HMRC show there were approximately 2.3 million claims for Tax Credits in April 2020, which included 1.1 million recipients of Child Tax Credits, 204,000 recipients of Working Tax.

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