The UK Tax Credit system has been devised by the UK government in order to find a way to support the working class. The Tax credit currently has two major systems, the Working Tax Credit and the Child Tax Credit. While the Working Class Credit is concentrating on helping those who are officially employed but do not make enough money on a monthly basis to sustain a normal living condition, Child Tax Credit can be applied for by anyone who has a custody of one or more children. This time around we will be discussing the general conditions of application for a working class credit.
The basic amount of working tax credit is GBP 1960 per year but the amount is always customized and depends on the exact status of the applicant. Let’s see a couple of examples to this:
Once approved, the Working Tax credit is paid for 12 months, however due to the long application process all applicants are advised to apply for it well in advance.
First of all, you need to go to the governmental website of Tax credits where you can get to find the whole list of conditions which have to be met along with a calculation sheet which helps you count how much money you can be eligible for. You can apply online too. Ensure you have your Personal ID, your tax papers of last year and any other documentation which can prove to be qualifying. Bear in mind, that you may not get as much or any Tax credit if you are already receiving other governmental benefits. Call the hotline for more information.