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From
5 April 2003, Child Tax Credit replaced Children's Tax Credit.
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Unlike
Children's Tax Credit, which was a tax reducer, Child Tax Credit
is real money being paid by the Government into the bank account
of the person mainly responsible for looking after the children.
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You
won't get it if you don't apply for it. |
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However
it is means tested and you will only be entitled if: |
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Your
annual pre-tax household income is below approximately £58,000
(or £66,000 if you have a child under 1 year old).
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You
have children under 16 (under 18 if in full time education)
living with you. |
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The
Credit will normally be calculated on the previous tax year's
household income. |
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The
amount you will receive is calculated by the Inland Revenue
and is mainly based upon the amount of the household income
and the number of children. For example: |
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Household
Income
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Number
of
Children
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Approx.
Credit
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£
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£
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25,000
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1
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550
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25,000
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3
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1,150
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55,000
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1
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100
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55,000
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3
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200
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It
is possible to apply on-line at: www.inlandrevenue.gov.uk/taxcredits.
Otherwise, if you haven't been sent one, you may request a claim
form by contacting the Inland Revenue on 0845 300 3900. The
Web site and this number are also useful if you have any queries. |
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