tailieunhanh - A GUIDE TO CHILD TAX CREDIT AND WORKING TAX CREDIT

The specification of the credit demand equation is based on a generally defined money demand function extended with in accordance with the conceptual approach outlined above. The demand for credit in general, as a form of money demand, can be assumed to depend on two main variables: the income or activity level and the cost of credit. In accordance with the discussion in section , we augment this basic specification with variables mirroring the adjustments in the firms’ balance sheets as well as such related to the specifics of this type of financial flows. . | HM Revenue Customs A guide to Child Tax Credit and Working Tax Credit WTC2 Contents 1 Introduction Page 3 2 Child Tax Credit Page 5 3 Working Tax Credit Page 8 4 Income and capital Page 20 5 How is my award worked out Page 24 6 Help and advice Page 31 7 Examples of tax credits calculations Page 34 8 Customer service Page 42 We have a range of services for people with disabilities including guidance in Braille audio and large print. Most of our forms are also available in large print. Please contact us on any of our phone helplines if you need these services. Ffoniwch 0300 200 1900 i dderbyn fersiynau Cymraeg o ffurflenni a chanllawiau. Page 2 1 Introduction More information about Child Tax Credit is on page 5 and Working Tax Credit on page 8. There are two tax credits Child Tax Credit and Working Tax Credit. This guide explains in detail what they are who is eligible and how to claim. If you are responsible for children or are working as an employee or a self-employed person you should find out more about them. Comprehensive guidance notes are provided with the claim form. Child Tax Credit and Working Tax Credit do not affect Child Benefit payments which we pay separately. Child Tax Credit supports families with children. This can include children until their 16th birthday and young persons aged from 16 but under 20 years old. You can claim whether or not you are in work. The amount you get is based on your income. As a rough guide you may get an award of Child Tax Credits if you have one child and a household income of up to about 26 000 two children and a household income of up to about 32 200. It s important to know that these figures are a guide only. Depending on your circumstances you may still qualify if your household income is higher. For example if you are claiming for more than two children or have a child with a disability. See the table on page 7. Working Tax Credit is for working people on a low income and is based on the hours you work and get paid .