Some parents may have to provide evidence of childcare costs if they claim tax credits
And if you’re overpaid tax credits, your debts may be collected by companies paid by results following plans for a pilot
On page 68 of the Autumn Statement document, there’s an announcement of a trial scheme for people who claims tax credits. It says that the government will set up a pilot scheme where tax credit debt collection is outsourced on a ‘payments by results’ basis. The government also wants parents with ‘high’ childcare costs to provide evidence of the costs if they’re on tax credits.
Child benefit changes Q and A – how they may affect you
How are you affected by the child benefit changes coming in from January if – for example - you and your partner split up?
The government’s child benefit changes coming in from January 7th are not the most straightforward. I’ve written an article that’s a basic guide to the child benefit changes, but I’ve also had lots of questions about what counts towards the £50,000 income threshold and what happens if your partner won’t tell you about his or her finances and who pays the tax charge if a new partner moves in.
Child benefit changes; if you or your partner earns over £50,000 a year, what should you do?
Households where one partner earns £50,000 or more will have to pay extra tax or give up child benefit.
From January 2013, if you or your partner earns over £50,000 a year and you live together, you won’t be entitled to the full rate of child benefit. Instead child benefit will be clawed back through a tax charge. From the end of the week, HM Revenue and Customs will be sending out a letter explaining the options (and they're not straightforward!). The main thing is that you should make sure you receive National Insurance credits.
The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice. You should always obtain independent financial advice.
