Wednesday 17 June, 2015
Every household with a child or children is entitled to claim Child Tax Credits irrespective of their income, however the amount you receive will be based on your income and circumstances.
During 2015/2016 you may be able to apply for up to £2,780.00 for each child and this will increase up to an additional £3,140 for a disabled child. Furthermore, you will also receive the family element which again could be as much as £540.00.
To establish how much you would receive based on your income use the HMRC online calculator https://www.gov.uk/tax-credits-calculator
If you have not claimed Child Tax Credits before you can either call 0345 300 3900 or the online application tool https://www.gov.uk/qualify-tax-credits
To validate your claim you will need to keep details of your income (payslips) benefits and children’s education, you are required to keep this information for three years.
It is always worth remembering to notify the Tax Credits Helpline throughout the year of any changes to your circumstances such as a change in income or if your child leaves home, this will ensure you receiving
the correct amount of Tax Credits.
If you already receive Child Tax Credits you must remember to make a renewal on or before 31 st July, the renewal packs are issued before 30 th June and if you have not received one you should contact the helpline 0345 300 3900.
Do not forget to make the renewal, otherwise your Tax Credits will stop, and you will receive a statement advising that you have to pay back all the tax credits you have received since the 6 th April. It is worth noting there is a 30 day appeal window if you apply to renew after receiving the statement.
If you fail to make a renewal claim you will need to make a new claim.
Getting the relevant information together for your renewal will be relatively straight forward if you are an employee (P60 and payslips) or you receive benefits (benefit notification), however if you are self-employed you will need to have prepared your accounts (income less expenses and allowances) if this is something you require assistance with please do not hesitate to contact us.