An Introduction to Tax Credits

Posted on Sunday 5 July 2009

With the down turn in the economy grinding on in 2009, it’s critical to realise what government benefits you are entitled to from the UK government. Every year, hundreds of millions of British pound sterlings worth of benefits go unclaimed. Some of that dosh may well have been appropriated for yourself, if only you realised you were eligible for it. Whether it’s a working tax credit, child tax credit or family tax credit, it’s advised to do your homework and find out what kind of tax credits you are eligible for.

A good place to start is by going to the the Inland Revenue website : taxcredits.inlandrevenue.gov.uk. Here you can get information on what tax credits/benefits are on offer to you, and how you can apply .

It’s essential to say that the way many tax credits are computed are frequently quite involved, so it’s a smart move to telephone the tax office and chat with a representative there, and divulge your actual circumstances. That way the inland revenue can determine whether you meet the requirements for certain tax credits or not – since the forms you need to fill in can be rather lengthy to fill in.

Not is it only essential to discover what benefits you may be entitled to, but you might think of a member of your family or a friend who may also be eligible for such a tax credit/benefit.

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