Archive: Tax Credit
Sally Copley, Save the Children's head of poverty, responds to the government's announcement that it will expand childcare payments to an extra 80,000 families:
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The Low Incomes Tax Reform Group (LITRG) is warning a number of groups of tax credit claimants that they need to contact HM Revenue and Customs (HMRC) if they want to continue receiving working tax credit after this week.
The Chartered Institute of Taxation (CIOT) has welcomed the confirmation by the Chancellor of the decision to introduce an ‘above the line’ research and development (R&D) tax credit in Finance Bill 2013. The CIOT has previously said that an 'above the line' tax credit system will provide a far stronger incentive for businesses to invest in R&D.
The LITRG cautions that even if you no longer want to claim or think you are no longer entitled, if you have claimed tax credits at all during the 2013/14 tax year you will still be included in the renewal exercise.
The National Audit Office (NAO) has again qualified HMRC’s accounts because of the levels of ‘error and fraud’ in tax credits.