Walsall FIS offers up-to-date information,
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Tax Credits

There are 2 types of Tax Credits, Working Tax Credit and Child Tax Credit. Details of the basic criteria for them is below. If you are looking for help towards the cost of registered childcare, then this is covered in the Childcare Element of Working Tax Credit.

 

Working Tax Credit

You could get Working Tax Credit if either of the following apply:

  • you’re aged from 16 to 24 and have a child or a qualifying disability
  • you’re 25 or over, with or without children

You must:

  • work a certain number of hours a week
  • get paid for the work you do (or expect to)
  • have an income below a certain level

The basic amount of Working Tax Credit is up to £1,960 a year - you could get more (or less) depending on your circumstances and income.

You can find out more by visiting the Government's website.

Childcare Element

If you work and are using registered childcare, then you maybe able to claim upto 70 % of the costs back, upto a maximum of £122.50 per week for 1 child and £210.00 per week for 2 or more. The actual amount you receive will be based on the amount you pay, the amount you earn and your family circumstances.

To see if you are eligible, please visit Her Majesty's Revenues and Customs website.

 

Child Tax Credit

If you have a child under 16 (or under 20 if they are in approved training or education) that lives with you, you may be able to get Child Tax Credit. You do not need to be working to claim, but the amount of money you have coming in does affect your entitlement. As a rough guide to be eligible:

  • If you have 1 child, your household income should be below £25,000
  • If you have 2 or more children, it should be £35,000

As with other Tax Credits, the amount you get depends on your circumstances

To check your eligibility, please visit the Government's website.

Please note: the information contained on this page is designed as a rough guide only and we would recommend that you check with the relevant agencies to confirm if you are eligible for any Tax Credits.

 

updated 06.07.2017