Tax Credit
WORKING & CHILD TAX CREDIT
Working Tax Credit is a payment to top up the earnings of low paid working people (whether employed or self-employed). You don't need to have children to qualify. Working Tax Credit helps to make work pay for low income workers. The amount of tax credits you receive will depend on your annual income. You will qualify for Woking Tax Credit if you are single and your income is less than £11,700 a year, or if your joint income as a couple is less than £16,300 a year. If you have children, you are likely to get Child Tax Credit if your income (your joint income if you are a couple) is less than £58,175 a year (or £66,350 if you have a child under the age of one). The amount you get depends on various things, including your annual income,too. You may get more if you care for a child under one or a disabled child. If both of you are working and have child or children and you pay childcare cost to the registered childminder, then you are entitled to the payment of so called childcare element which will be included in the amount of Working Tax Credit.
HM Revenue & Customs (HMRC) will pay Working Tax Credit by Direct Payment to your bank, building society, Post Office® account or National Savings account.