Claiming Child Tax Credit
In the hectic world today, raising kids can be stressful, particularly if funding is limited. Kids always need something, whether it’s new clothes or the newest video games. Managing to find the funds can be just about impossible at times. However, there are government benefits that are available to low income and struggling households which will help to relieve the burden in these situations.
One such benefit is the Child Tax Credit, which was created and intended in order to lend a helping hand to families and carers of university students and school age kids to make sure that the children can have everything they need. This is especially advantageous to low income parents that have kids below the age of 16 or a young person still enrolled in school full-time.
This particular Tax Credit is based upon the number of children in your home and also considers your household earnings. In addition to getting a tax credit for the family, you can claim a specified amount of child benefit for every child in your home. The children do not have to be related to you, but you do need to be the primary caregiver and the children must be living full time in your home.
Claiming the Child Tax Credit is extremely simple. When you initially apply, you are going to have to get a claim pack. You will also have to provide confirmation of your identity, which can easily be done by providing your national insurance number. Once you are approved, your Child Tax Credit can be renewed by telephone or by mail. This needs to be done every year and you’ll be notified when it is time to renew. It’s critical for you to remember to report changes in circumstances such as changes in household size and income. If you fail to report a change, you might end up having to pay back the tax credits you’ve received.
You can receive Child Tax Credits in several different ways. You can either receive the child allowance on a weekly or monthly basis, and it can be deposited into any account you specify. Children’s Tax Credits must be transferred to the main caretaker’s bank account and can be received by cheque, which will be mailed to the address that you listed on your application. This child benefit may be claimed additionally with the Working Tax Credit, a benefit entitlement if you or your partner are working.
In the event you aren’t approved these benefits, or don’t agree with your tax credit calculation, you could appeal against a tax credit decision. This needs to be done within 30 days of the notification of denial.
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By: Evan Felt
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Evan Felt is a content writer for www.uk-benefits.org who researches benefit and support programs available to UK citizens. Find important advice and information on child benefits, as well as UK grants, allowances and other benefits.
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